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Oracle Shares (NYSE: ORCL) Up Big In PreMarket – Analyst Price Targets Shift

Analyst Team trader
Updated 12 Jun 2024

Oracle stock (NYSE: ORCL) is soaring in the pre-market session, up a shade under 8% after earnings data was released, followed by a swathe of analyst updates on price targets.

The company's financial track record has been solid, with Oracle reporting earnings per share (EPS) of $1.63 for the quarter. However, this figure was slightly below the consensus estimate of $1.65. Meanwhile, the company's revenue reached $14.29 billion, marking a 3.3% year-over-year growth compared to the same quarter last year.

Adding to Oracle's financial story, the company recently announced a quarterly dividend of $0.40 per share, which is slated to be paid to shareholders on July 25th. This dividend correlates to a yield of 1.29%, offering investors a modest return on their investment through regular payouts.

The firm has recently earned the confidence of analysts, receiving a consensus rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the company’s stock. This composite rating indicates a favourable outlook on the stock among market analysts.

Eleven research analysts have given Oracle a cautious “hold” rating, suggesting that investors should maintain their position in the stock. Meanwhile, an additional fourteen analysts have recommended a “buy” rating, signifying their belief that the stock has strong investment potential and may outperform market expectations.

The analysts also provided a mean price target, setting the average 1-year price objective for Oracle at $130.29. This benchmark provides investors with a gauge for the stock's potential movement over the coming year, given Oracle's recent financial performance and future prospects.

A Brief Look at Some Analysts Forecasts

  • Morgan Stanley have raised the firm's price target on Oracle to $125 from $115 and the company keeps an Equal Weight rating on the sharesTD Cowen have raised Oracle price target raised to $165 from $145 and the company keeps a Buy rating on the shares.
  • Barclays have raised the firm's price target on Oracle to $160 from $147 and the companykeeps an Overweight rating on the shares
  • Citi have raised the firm's price target on Oracle to $140 from $128 and the company keeps a Neutral rating on the shares
  • Bernstein have raised the firm's price target on Oracle to $171 from $159 and the firm keeps an Outperform rating on the shares
  • UBS have raised the firm's price target on Oracle to $160 from $150 and the company keeps a Buy rating on the shares
  • Stifel have raised the firm's price target on Oracle to $135 from $120 and the firm keeps a Hold rating on the shares
  • KeyBanc have raised the firm's price target on Oracle to $165 from $150 and the firm keeps an Overweight rating on the shares
  • JPMorgan have raised the firm's price target on Oracle to $110 from $105 and the firm also keeps a Neutral rating on the shares
  • BofA have raised the firm's price target on Oracle to $155 from $144 and they keeps a Neutral rating on the shares

Oracle Stock Price Target


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Oracle Corporation is a prominent player in providing cloud software applications, offering an extensive range of products including enterprise resource planning (ERP), supply chain management, human capital management, healthcare systems, advertising solutions, and many others. This diversified portfolio of cloud applications allows the company to serve a broad spectrum of industries and clients worldwide.

Investors and market spectators alike will be keeping a watchful eye on Oracle, as its stock performance and corporate developments continue to unfold on the global financial stage.

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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.