Oracle Corporation (ORCL) Cut to “Hold” at BidaskClub

Oracle Corporation (NYSE:ORCL) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday, August 9th.

ORCL has been the subject of a number of other reports. KeyCorp reissued a “buy” rating and set a $61.00 price target on shares of Oracle Corporation in a research note on Tuesday, July 18th. MKM Partners reissued a “neutral” rating and set a $48.00 price target (up from $45.00) on shares of Oracle Corporation in a research note on Friday, June 23rd. Cowen and Company reissued an “outperform” rating and set a $55.00 price target (up from $48.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. Bank of America Corporation reissued a “buy” rating and set a $62.00 price target (up from $54.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG increased their price target on Oracle Corporation from $44.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.81.

Shares of Oracle Corporation (NYSE ORCL) opened at 48.62 on Wednesday. The company has a market cap of $201.13 billion, a P/E ratio of 22.00 and a beta of 1.06. The stock’s 50 day moving average price is $49.83 and its 200-day moving average price is $45.71. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $51.85.

Oracle Corporation (NYSE:ORCL) last released its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.11. The firm had revenue of $10.94 billion during the quarter, compared to analyst estimates of $10.45 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. Equities research analysts expect that Oracle Corporation will post $2.96 earnings per share for the current year.

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In other Oracle Corporation news, EVP W Corey West sold 150,000 shares of Oracle Corporation stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $51.39, for a total transaction of $7,708,500.00. Following the completion of the sale, the executive vice president now owns 177,988 shares of the company’s stock, valued at approximately $9,146,803.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Chizen sold 206,250 shares of Oracle Corporation stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $49.75, for a total value of $10,260,937.50. Following the transaction, the director now owns 63,985 shares of the company’s stock, valued at approximately $3,183,253.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,817,500 shares of company stock valued at $91,560,925. 29.00% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ORCL. Acrospire Investment Management LLC raised its position in Oracle Corporation by 947.4% in the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after buying an additional 1,800 shares during the last quarter. Burt Wealth Advisors raised its position in Oracle Corporation by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after buying an additional 88 shares during the last quarter. IHT Wealth Management LLC raised its position in Oracle Corporation by 65.9% in the second quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after buying an additional 947 shares during the last quarter. Baystate Wealth Management LLC raised its position in Oracle Corporation by 9.2% in the second quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock worth $123,000 after buying an additional 206 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Oracle Corporation by 1,150.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock worth $112,000 after buying an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 58.79% of the company’s stock.

Oracle Corporation Company Profile

Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.

Analyst Recommendations for Oracle Corporation (NYSE:ORCL)

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