Piper Sandler Issues Pessimistic Forecast for Oracle (NYSE:ORCL) Stock Price

Oracle (NYSE:ORCL) had its target price decreased by stock analysts at Piper Sandler from $210.00 to $190.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the enterprise software provider’s stock. Piper Sandler’s price objective suggests a potential upside of 27.63% from the company’s current price.

ORCL has been the topic of a number of other research reports. Bank of America reduced their price objective on Oracle from $195.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday. BNP Paribas upgraded shares of Oracle to a “strong-buy” rating in a research report on Tuesday, December 10th. Cantor Fitzgerald downgraded shares of Oracle to an “overweight” rating in a research note on Monday, February 10th. StockNews.com cut shares of Oracle from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Monness Crespi & Hardt upgraded shares of Oracle from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Eleven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and a consensus price target of $180.23.

Oracle Stock Down 4.1 %

Shares of ORCL opened at $148.87 on Tuesday. The business’s 50 day moving average is $167.27 and its 200 day moving average is $169.58. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle has a 12-month low of $111.18 and a 12-month high of $198.31. The company has a market capitalization of $416.38 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). The company had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. Oracle’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 EPS. Research analysts expect that Oracle will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling at Oracle

In related news, CEO Safra Catz sold 2,101,154 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the completion of the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $207,331,027.20. The trade was a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 42.20% of the company’s stock.

Institutional Investors Weigh In On Oracle

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Oracle by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider’s stock valued at $26,231,127,000 after acquiring an additional 2,296,069 shares during the last quarter. State Street Corp raised its stake in Oracle by 2.7% during the third quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock worth $12,003,241,000 after purchasing an additional 1,847,561 shares during the period. FMR LLC raised its stake in Oracle by 0.4% during the fourth quarter. FMR LLC now owns 38,002,902 shares of the enterprise software provider’s stock worth $6,332,803,000 after purchasing an additional 156,269 shares during the period. Geode Capital Management LLC boosted its holdings in Oracle by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 35,814,302 shares of the enterprise software provider’s stock valued at $5,954,961,000 after purchasing an additional 619,619 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Oracle by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 20,202,421 shares of the enterprise software provider’s stock valued at $3,366,531,000 after buying an additional 1,722,037 shares during the period. 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.