Rosenblatt Securities Keeps a Hold Rating on Oracle Corp (ORCL)

By Jason Carr

In a report issued on October 28, Marshall Senk from Rosenblatt Securities maintained a Hold rating on Oracle Corp (NYSE: ORCL), with a price target of $51. The company’s shares closed yesterday at $47.02.

Senk said:

“We come away from the event with our view unchanged for the near term but grow- ing more positive for the longer term. Our focus at the event was primarily meeting with customers and secondarily attending the annual analyst day. The feedback we received from large customers reinforced the view that they remain committed to Oracle and view the launch of Oracle Cloud Infrastructure (OCI) Gen 2 as the potential catalyst to begin the migration of large enterprise applications to the cloud – which the company estimates could drive a 3x multiple on current revenue. We retain our neutral rating and $51 price target but are following customer migration plans very closely.”

According to TipRanks.com, Senk is a 5-star analyst with an average return of 15.8% and a 57.6% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Carbonite Inc.

Currently, the analyst consensus on Oracle Corp is a Moderate Buy with an average price target of $53.89, implying a 14.6% upside from current levels. In a report issued on October 22, Needham also initiated coverage with 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 17.99M.

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