Wedbush Believes Oracle Corp (NYSE: ORCL) Won’t Stop Here

By Carrie Williams

In a report released today, Steven Koenig from Wedbush upgraded Oracle Corp (NYSE: ORCL) to Buy. The company’s shares closed yesterday at $46.33, close to its 52-week high of $46.99.

According to TipRanks.com, Koenig is a 5-star analyst with an average return of 13.1% and a 61.7% success rate. Koenig covers the Technology sector, focusing on stocks such as Progress Software Corp, Ultimate Software, and Informatica Corp.

Currently, the analyst consensus on Oracle Corp is Strong Buy and the average price target is $50.80, representing a 9.6% upside.

In a report released yesterday, BTIG also maintained a Buy rating on the stock with a $47 price target.

Based on Oracle Corp’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $10.89 billion and quarterly net profit of $3.23 billion. In comparison, last year the company earned revenue of $10.59 billion and had a net profit of $2.81 billion.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2017, John F. Fowler, the EVP, Systems of ORCL sold 250,000 shares for a total of $11,162,500.

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.