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Oracle (ORCL) Gains As Market Dips: What You Should Know
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Oracle (ORCL - Free Report) closed the most recent trading day at $124.33, moving +0.28% from the previous trading session. This change outpaced the S&P 500's 0.7% loss on the day. At the same time, the Dow lost 0.57%, and the tech-heavy Nasdaq lost 1.06%.
Coming into today, shares of the software maker had gained 7.59% in the past month. In that same time, the Computer and Technology sector gained 3.06%, while the S&P 500 gained 0.58%.
Wall Street will be looking for positivity from Oracle as it approaches its next earnings report date. This is expected to be September 11, 2023. In that report, analysts expect Oracle to post earnings of $1.14 per share. This would mark year-over-year growth of 10.68%. Our most recent consensus estimate is calling for quarterly revenue of $12.45 billion, up 8.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.51 per share and revenue of $53.85 billion. These totals would mark changes of +7.62% and +7.8%, respectively, from last year.
Any recent changes to analyst estimates for Oracle should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Oracle is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Oracle is holding a Forward P/E ratio of 22.48. For comparison, its industry has an average Forward P/E of 29.26, which means Oracle is trading at a discount to the group.
It is also worth noting that ORCL currently has a PEG ratio of 2.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 2.52 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ORCL in the coming trading sessions, be sure to utilize Zacks.com.
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Oracle (ORCL) Gains As Market Dips: What You Should Know
Oracle (ORCL - Free Report) closed the most recent trading day at $124.33, moving +0.28% from the previous trading session. This change outpaced the S&P 500's 0.7% loss on the day. At the same time, the Dow lost 0.57%, and the tech-heavy Nasdaq lost 1.06%.
Coming into today, shares of the software maker had gained 7.59% in the past month. In that same time, the Computer and Technology sector gained 3.06%, while the S&P 500 gained 0.58%.
Wall Street will be looking for positivity from Oracle as it approaches its next earnings report date. This is expected to be September 11, 2023. In that report, analysts expect Oracle to post earnings of $1.14 per share. This would mark year-over-year growth of 10.68%. Our most recent consensus estimate is calling for quarterly revenue of $12.45 billion, up 8.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.51 per share and revenue of $53.85 billion. These totals would mark changes of +7.62% and +7.8%, respectively, from last year.
Any recent changes to analyst estimates for Oracle should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Oracle is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Oracle is holding a Forward P/E ratio of 22.48. For comparison, its industry has an average Forward P/E of 29.26, which means Oracle is trading at a discount to the group.
It is also worth noting that ORCL currently has a PEG ratio of 2.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 2.52 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ORCL in the coming trading sessions, be sure to utilize Zacks.com.