Bank of America Issues Pessimistic Forecast for Oracle (NYSE:ORCL) Stock Price

Oracle (NYSE:ORCL) had its price objective dropped by equities research analysts at Bank of America from $195.00 to $175.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the enterprise software provider’s stock. Bank of America‘s target price suggests a potential upside of 17.55% from the stock’s current price.

Several other research analysts also recently weighed in on ORCL. DA Davidson upped their target price on shares of Oracle from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Mizuho raised their target price on Oracle from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Guggenheim reiterated a “buy” rating and issued a $220.00 price target on shares of Oracle in a research note on Wednesday, March 5th. Stifel Nicolaus reduced their price target on Oracle from $175.00 to $150.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Piper Sandler upped their target price on Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and an average price target of $180.23.

Oracle Stock Performance

Shares of ORCL stock opened at $148.87 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. The company has a market cap of $416.38 billion, a PE ratio of 36.40, a P/E/G ratio of 3.46 and a beta of 1.07. The company’s fifty day simple moving average is $167.27 and its 200-day simple moving average is $169.58. Oracle has a 52 week low of $111.18 and a 52 week high of $198.31.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, March 10th. The enterprise software provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The company had revenue of $14.13 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same period last year, the business earned $1.41 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Oracle will post 5 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Safra Catz sold 345,174 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $185.56, for a total value of $64,050,487.44. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $207,565,931.52. This represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 42.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Oracle

Several large investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Oracle during the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC acquired a new stake in Oracle in the fourth quarter worth approximately $30,000. Winch Advisory Services LLC boosted its stake in Oracle by 89.7% during the 4th quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Hurley Capital LLC acquired a new position in shares of Oracle during the 4th quarter valued at $33,000. Finally, Synergy Investment Management LLC bought a new stake in shares of Oracle in the 4th quarter worth $34,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Company Profile

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.