Oracle Estimates, Price Target Lowered

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Oracle Estimates, Price Target Lowered by UBS, Citigroup, and Oppenheimer (ORCL)

By Michael Flannelly

Oracle Corporation (ORCL) released earnings after the close on Thursday, ultimately disappointing investors and analysts. As such, analysts at UBS, Citigroup, and Oppenheimer lowered their estimates and price targets on the computer software maker.

The analysts at UBS noted that they are cutting estimates and price target on Oracle due to concerns about the company’s shift to cloud services and its sales execution. The analysts now see shares of ORCL reaching $37, suggesting an 11% upside to Thursday’s closing price of $33.21.

Citigroup analysts lowered the price target and estimates on Oracle due to macroeconomic weaknesses that are hurting the company. They see shares reaching $38, suggesting a 14% upside to Thursday’s closing price.

Oppenheimer analysts also see shares of ORCL reaching $37, and they cut the company’s earnings estimates due to poor execution. However, the analysts maintain an “Outperform” rating on the company.

Oracle shares were down $2.68, or -8.07%, during morning trading on Friday. The stock is down -8.345 year-to-date.