Goldman Sachs Upgrades Oracle

Fintel reports that on June 13, 2023, Goldman Sachs upgraded their outlook for Oracle (NYSE:ORCL) from Sell to Neutral.

Analyst Price Forecast Suggests 14.68% Downside

As of June 1, 2023, the average one-year price target for Oracle is 99.33. The forecasts range from a low of 55.55 to a high of $126.00. The average price target represents a decrease of 14.68% from its latest reported closing price of 116.43.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Oracle is 50,392MM, an increase of 5.08%. The projected annual non-GAAP EPS is 5.05.

What is the Fund Sentiment?

There are 3464 funds or institutions reporting positions in Oracle. This is an increase of 99 owner(s) or 2.94% in the last quarter. Average portfolio weight of all funds dedicated to ORCL is 0.60%, an increase of 33.34%. Total shares owned by institutions increased in the last three months by 3.08% to 1,343,618K shares. The put/call ratio of ORCL is 0.74, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 45,902K shares representing 1.70% ownership of the company. In it’s prior filing, the firm reported owning 45,077K shares, representing an increase of 1.80%. The firm increased its portfolio allocation in ORCL by 6.89% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 35,861K shares representing 1.33% ownership of the company. In it’s prior filing, the firm reported owning 35,527K shares, representing an increase of 0.93%. The firm increased its portfolio allocation in ORCL by 6.42% over the last quarter.

Ofi Invest Asset Management holds 34,168K shares representing 1.27% ownership of the company.

Jpmorgan Chase holds 33,639K shares representing 1.25% ownership of the company. In it’s prior filing, the firm reported owning 28,463K shares, representing an increase of 15.39%. The firm increased its portfolio allocation in ORCL by 24.15% over the last quarter.

Geode Capital Management holds 27,754K shares representing 1.03% ownership of the company. In it’s prior filing, the firm reported owning 27,617K shares, representing an increase of 0.49%. The firm increased its portfolio allocation in ORCL by 5.64% over the last quarter.

Oracle Background Information
(This description is provided by the company.)

The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly- Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel

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