KeyCorp Lowers Oracle (NYSE:ORCL) Price Target to $300.00

Oracle (NYSE:ORCL) had its price target lowered by investment analysts at KeyCorp from $350.00 to $300.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the enterprise software provider’s stock. KeyCorp’s price target points to a potential upside of 55.15% from the company’s current price.

Several other analysts also recently commented on ORCL. Wells Fargo & Company initiated coverage on shares of Oracle in a report on Wednesday, December 3rd. They set an “overweight” rating and a $280.00 target price for the company. Piper Sandler dropped their price objective on shares of Oracle from $380.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday. Cowen reiterated a “buy” rating on shares of Oracle in a research report on Thursday, December 4th. Wolfe Research upped their target price on Oracle from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Finally, Scotiabank upped their price objective on shares of Oracle from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.89.

Oracle Stock Down 13.3%

ORCL traded down $29.65 during trading hours on Thursday, hitting $193.36. 27,337,297 shares of the company’s stock were exchanged, compared to its average volume of 16,367,171. The stock’s 50-day moving average is $249.32 and its two-hundred day moving average is $240.90. Oracle has a 1-year low of $118.86 and a 1-year high of $345.72. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.33. The stock has a market cap of $551.23 billion, a price-to-earnings ratio of 44.72, a PEG ratio of 2.51 and a beta of 1.66.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Tuesday, September 9th. The enterprise software provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.01). The company had revenue of $14.93 billion during the quarter, compared to analyst estimates of $15.04 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 EPS. Sell-side analysts predict that Oracle will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oracle news, Director Naomi O. Seligman sold 2,222 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $288.91, for a total transaction of $641,958.02. Following the sale, the director owned 29,225 shares of the company’s stock, valued at approximately $8,443,394.75. This represents a 7.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stuart Levey sold 19,758 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $300.00, for a total value of $5,927,400.00. Following the sale, the executive vice president owned 18,429 shares in the company, valued at approximately $5,528,700. The trade was a 51.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 204,254 shares of company stock valued at $60,227,807 over the last quarter. 40.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Oracle in the 2nd quarter worth $4,275,378,000. Jennison Associates LLC boosted its position in Oracle by 2,062.4% in the third quarter. Jennison Associates LLC now owns 9,227,252 shares of the enterprise software provider’s stock worth $2,595,072,000 after purchasing an additional 8,800,546 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Oracle by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 168,960,500 shares of the enterprise software provider’s stock valued at $47,518,451,000 after purchasing an additional 4,681,626 shares during the last quarter. American Century Companies Inc. grew its position in Oracle by 333.7% during the third quarter. American Century Companies Inc. now owns 5,238,006 shares of the enterprise software provider’s stock valued at $1,473,137,000 after buying an additional 4,030,382 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Oracle during the second quarter worth about $731,512,000. 42.44% of the stock is owned by institutional investors.

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.