Oracle (NYSE:ORCL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Oracle has underperformed the industry on a year-to-date basis. The company’s soft outlook for the second quarter reflects intensifying competition from Microsoft Azure and Amazon Web Services (AWS) in the cloud. Moreover, higher investments on PaaS and IaaS will keep margins under pressure in the near term. Nevertheless, we believe that the company is benefiting from significant momentum in the SaaS offerings. Oracle claims that it is wining market share against salesforce.com and Workday, which is a significant growth driver. We believe the company’s growing cloud market share will continue to drive top-line growth in the foreseeable future. Moreover, the next-generation autonomous database, which is supported by machine learning, is a key catalyst. Further, the company has positive record of earnings surprises in recent quarters.”
ORCL has been the topic of several other research reports. Vetr downgraded Oracle from a “buy” rating to a “hold” rating and set a $46.58 price target on the stock. in a research note on Sunday, September 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $53.00 price target on shares of Oracle in a research note on Sunday, August 27th. BidaskClub upgraded Oracle from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. ValuEngine upgraded Oracle from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, UBS reiterated a “buy” rating and set a $57.00 price target (up previously from $52.00) on shares of Oracle in a research note on Friday, September 15th. Twelve investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. Oracle currently has a consensus rating of “Buy” and an average price target of $54.85.
Oracle (NYSE:ORCL) last announced its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $9.21 billion for the quarter, compared to analyst estimates of $9.03 billion. Oracle had a return on equity of 20.55% and a net margin of 25.34%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. equities analysts predict that Oracle will post 2.68 earnings per share for the current fiscal year.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $50.35, for a total transaction of $188,812.50. Following the transaction, the director now owns 18,125 shares in the company, valued at $912,593.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dorian Daley sold 76,703 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $49.00, for a total value of $3,758,447.00. The disclosure for this sale can be found here. Insiders have sold 305,776 shares of company stock worth $14,821,999 in the last quarter. 29.00% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Acrospire Investment Management LLC raised its holdings in shares of Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after acquiring an additional 1,800 shares during the last quarter. Burt Wealth Advisors increased its holdings in shares of Oracle by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Oracle by 81,200.0% in the third quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after purchasing an additional 2,436 shares during the last quarter. TrimTabs Asset Management LLC increased its holdings in shares of Oracle by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after purchasing an additional 1,264 shares during the last quarter. Finally, Baystate Wealth Management LLC increased its holdings in shares of Oracle by 9.2% in the second quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $123,000 after purchasing an additional 206 shares during the last quarter. 57.70% of the stock is owned by institutional investors and hedge funds.
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Oracle 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.
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