Morgan Stanley Reiterates “Equal Weight” Rating for Oracle (NYSE:ORCL)

Oracle (NYSE:ORCL)‘s stock had its “equal weight” rating reissued by Morgan Stanley in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $125.00 price objective on the enterprise software provider’s stock. Morgan Stanley’s target price points to a potential downside of 9.58% from the stock’s current price.

ORCL has been the subject of several other reports. Sanford C. Bernstein increased their price target on Oracle from $159.00 to $171.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Mizuho increased their price target on Oracle from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. KeyCorp upped their price objective on Oracle from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. The Goldman Sachs Group upped their price objective on Oracle from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, Piper Sandler upped their price objective on Oracle from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.83.

Oracle Stock Down 0.7 %

ORCL stock opened at $138.25 on Tuesday. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.71 and a quick ratio of 0.72. The stock has a market capitalization of $381.00 billion, a P/E ratio of 37.26, a P/E/G ratio of 2.52 and a beta of 1.01. The business has a 50-day moving average of $123.84 and a 200-day moving average of $117.48. Oracle has a fifty-two week low of $99.26 and a fifty-two week high of $145.32.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.02). Oracle had a return on equity of 223.01% and a net margin of 19.76%. The firm had revenue of $14.29 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the company earned $1.35 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Oracle will post 5.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Oracle

In other Oracle news, Director George H. Conrades sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.13, for a total value of $2,903,250.00. Following the sale, the director now owns 17,836 shares of the company’s stock, valued at approximately $2,071,294.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Edward Screven sold 235,918 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the sale, the insider now owns 2,626,764 shares of the company’s stock, valued at approximately $379,042,045.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George H. Conrades sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.13, for a total value of $2,903,250.00. Following the sale, the director now directly owns 17,836 shares in the company, valued at approximately $2,071,294.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 348,418 shares of company stock valued at $47,784,717. 42.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oracle

Hedge funds have recently modified their holdings of the company. Contour Asset Management LLC raised its position in Oracle by 41.5% during the 4th quarter. Contour Asset Management LLC now owns 2,192,950 shares of the enterprise software provider’s stock worth $231,203,000 after purchasing an additional 643,490 shares during the last quarter. Sandy Spring Bank raised its position in shares of Oracle by 1.4% in the 4th quarter. Sandy Spring Bank now owns 78,049 shares of the enterprise software provider’s stock worth $8,229,000 after acquiring an additional 1,107 shares in the last quarter. Hancock Whitney Corp raised its position in shares of Oracle by 12.7% in the 4th quarter. Hancock Whitney Corp now owns 29,301 shares of the enterprise software provider’s stock worth $3,089,000 after acquiring an additional 3,291 shares in the last quarter. LVM Capital Management Ltd. MI raised its position in shares of Oracle by 3.5% in the 4th quarter. LVM Capital Management Ltd. MI now owns 5,986 shares of the enterprise software provider’s stock worth $631,000 after acquiring an additional 200 shares in the last quarter. Finally, Heritage Wealth Advisors raised its position in shares of Oracle by 0.6% in the 4th quarter. Heritage Wealth Advisors now owns 16,995 shares of the enterprise software provider’s stock worth $1,792,000 after acquiring an additional 109 shares in the last quarter. 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.