In a report released yesterday, Monika Garg from KeyBanc maintained a Hold rating on Oracle Corp (ORCL). The company’s shares closed yesterday at $45.73.
Garg noted:
“Weight. We are lowering our FY19 and FY20 revenue estimates to reflect the Company’s updated outlook and commentary around currency. Our EPS estimates are moving slightly higher due to lower share count and the $0.02 EPS beat in F2Q. ORCL repurchased 203M shares in the quarter for $10B, and we are modeling share repurchases through the year. Oracle’s move to the cloud is taking longer than expected, which is consistent with what we have heard from the channel, and with reduced disclosures, we have less visibility into the Company’s progress. the longer-than-expected cloud time frame.”
According to TipRanks.com, Garg is a 5-star analyst with an average return of 20.5% and a 64.3% success rate. Garg covers the Technology sector, focusing on stocks such as Wix.com Ltd, Guidewire, and Autodesk.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Oracle Corp with a $54 average price target, a 18.1% upside from current levels. In a report issued on December 12, Monness also maintained a Hold rating on the stock.
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The company has a one-year high of $53.48 and a one-year low of $42.57. Currently, Oracle Corp has an average volume of 20.65M.
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