Oracle (NYSE:ORCL) Now Covered by Royal Bank of Canada

Equities researchers at Royal Bank of Canada assumed coverage on shares of Oracle (NYSE:ORCL) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “sector perform” rating and a $165.00 price target on the enterprise software provider’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 5.89% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Piper Sandler increased their price objective on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Monday, September 16th. Evercore ISI lifted their price target on Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Citigroup boosted their price target on shares of Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Finally, Jefferies Financial Group upped their price target on Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $168.52.

Oracle Trading Up 0.9 %

Shares of ORCL stock opened at $175.33 on Wednesday. The stock has a 50-day simple moving average of $157.93 and a 200 day simple moving average of $139.38. The stock has a market capitalization of $485.85 billion, a P/E ratio of 45.19, a P/E/G ratio of 3.22 and a beta of 1.01. Oracle has a fifty-two week low of $99.26 and a fifty-two week high of $178.61. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Oracle will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 42.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Fairway Wealth LLC acquired a new position in Oracle in the 2nd quarter valued at approximately $27,000. POM Investment Strategies LLC acquired a new position in shares of Oracle in the second quarter valued at $30,000. Bbjs Financial Advisors LLC bought a new position in Oracle in the second quarter worth $35,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in Oracle during the first quarter worth $38,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Oracle in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

About Oracle

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.