KeyCorp Reiterates Buy Rating for Oracle Corporation (ORCL)

Oracle Corporation (NYSE:ORCL)‘s stock had its “buy” rating restated by investment analysts at KeyCorp in a research note issued to investors on Tuesday. They presently have a $61.00 target price on the enterprise software provider’s stock. KeyCorp’s price objective points to a potential upside of 20.94% from the company’s current price.

The analysts wrote, “We focused on Oracle’s cloud transition, and how moving to the cloud can generate 3x the revenue per customer, as well as Oracle’s opportunity in the SaaS market. Oracle’s opportunity in cloud and SaaS, and valuation, have been the main area of investor push-back since our upgrade. As Oracle continues to execute on its cloud transition, we believe multiple expansion can continue. Key Investment Points Oracle on average could see 3x the revenue from a customer who moves its workload from on-premise to the cloud. Transitions at Autodesk and Adobe, showed lifetime customer value driven from the cloud is much higher than from on-premise. As Oracle moves its customers to the cloud, it should gain a similar benefit. For the customer, migrating to the cloud can lead to significant overall cost savings, based on labor and hardware costs needed to manage on-premise solutions.””

Other analysts have also issued research reports about the stock. Pacific Crest reaffirmed an “equal weight” rating on shares of Oracle Corporation in a report on Friday, June 23rd. MKM Partners reaffirmed a “neutral” rating and set a $48.00 target price (up previously from $45.00) on shares of Oracle Corporation in a report on Friday, June 23rd. Mitsubishi UFJ Financial Group set a $63.00 target price on shares of Oracle Corporation and gave the stock a “buy” rating in a report on Monday, June 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Oracle Corporation in a report on Wednesday, June 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $47.00 target price on shares of Oracle Corporation in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirty-one have assigned a buy rating to the stock. Oracle Corporation has a consensus rating of “Buy” and a consensus price target of $50.52.

Shares of Oracle Corporation (ORCL) opened at 50.44 on Tuesday. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $51.85. The firm has a market cap of $208.65 billion, a price-to-earnings ratio of 22.82 and a beta of 1.06. The company’s 50 day moving average is $46.11 and its 200 day moving average is $43.14.

Oracle Corporation (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.11. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The company had revenue of $10.94 billion for the quarter, compared to analyst estimates of $10.45 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts anticipate that Oracle Corporation will post $2.96 earnings per share for the current year.

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In other Oracle Corporation news, CEO Safra Catz sold 394,081 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $45.01, for a total transaction of $17,737,585.81. Following the completion of the sale, the chief executive officer now directly owns 855,941 shares in the company, valued at approximately $38,525,904.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP W Corey West sold 150,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $51.39, for a total transaction of $7,708,500.00. Following the sale, the executive vice president now owns 177,988 shares of the company’s stock, valued at $9,146,803.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,561,351 shares of company stock valued at $75,910,784. 29.00% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Quest Investment Management Inc. OR raised its stake in Oracle Corporation by 259.6% in the fourth quarter. Quest Investment Management Inc. OR now owns 21,399 shares of the enterprise software provider’s stock worth $823,000 after buying an additional 15,449 shares in the last quarter. Quotient Investors LLC raised its stake in Oracle Corporation by 263.2% in the first quarter. Quotient Investors LLC now owns 41,811 shares of the enterprise software provider’s stock worth $1,865,000 after buying an additional 30,300 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in Oracle Corporation by 0.9% in the first quarter. Gateway Investment Advisers LLC now owns 1,867,556 shares of the enterprise software provider’s stock worth $83,312,000 after buying an additional 17,458 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in Oracle Corporation during the fourth quarter worth $181,000. Finally, Macquarie Group Ltd. raised its stake in Oracle Corporation by 16.2% in the fourth quarter. Macquarie Group Ltd. now owns 288,854 shares of the enterprise software provider’s stock worth $11,107,000 after buying an additional 40,221 shares in the last quarter. Institutional investors and hedge funds own 58.54% of the company’s stock.

About Oracle Corporation

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.

Analyst Recommendations for Oracle Corporation (NYSE:ORCL)

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