In a recent report, Guggenheim maintained its buy rating on Oracle (NYSE: ORCL). The enterprise software provider has received positive ratings and raised price targets from various research firms, including Sanford C. Bernstein, Piper Sandler, JPMorgan Chase & Co., Goldman Sachs Group, and Argus. Currently, Oracle has a Moderate Buy consensus rating with an average price target of $145.83.
Shares of Oracle opened at $139.13 on Tuesday with a 50-day simple moving average of $123.84 and a 200-day simple moving average of $117.48. The company’s market capitalization is $383.42 billion, and it has a debt-equity ratio of 8.25. Oracle recently reported quarterly earnings that slightly missed analysts’ estimates, with earnings per share of $1.63 and revenue of $14.29 billion.
The company also declared a quarterly dividend of $0.40 per share to be paid on July 25. Insiders, including Edward Screven and George H. Conradas, have recently sold shares of Oracle stock. Institutional investors have also made changes to their holdings in the company. Oracle provides a range of cloud software applications and services for enterprise IT environments, including Oracle Fusion Cloud ERP, HCM, SCM, and NetSuite.
Overall, Oracle continues to attract positive attention from analysts, investors, and insiders, showcasing the company’s strong performance and potential growth in the enterprise software market.
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https://www.defenseworld.net/2024/06/26/oracle-nyseorcl-receives-buy-rating-from-guggenheim.html
