In a report released today, Brad Zelnick from Credit Suisse maintained a Buy rating on Oracle (ORCL), with a price target of $57.00. The company’s shares closed last Friday at $53.29.
According to TipRanks.com, Zelnick is a top 100 analyst with an average return of 17.4% and a 73.8% success rate. Zelnick covers the Technology sector, focusing on stocks such as Zoom Video Communications, Ping Identity Holding, and CrowdStrike Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Oracle with a $51.93 average price target.
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Based on Oracle’s latest earnings release for the quarter ending February 29, the company reported a quarterly revenue of $9.8 billion and net profit of $2.57 billion. In comparison, last year the company earned revenue of $9.61 billion and had a net profit of $2.75 billion.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ORCL in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies. The Hardware segment provides hardware products and hardware-related software products including Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management and other hardware related software, and related hardware support. The Services segment offers consulting, advanced support, and education services. The company was founded by Lawrence Joseph Ellison, Robert Nimrod Miner and Edward A. Oates on June 16, 1977 and is headquartered in Redwood City, CA.
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