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Oracle (ORCL) Dips More Than Broader Market: What You Should Know
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Oracle (ORCL - Free Report) closed the most recent trading day at $173.10, moving -1.26% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.92% for the day. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq lost 1.6%.
Shares of the software maker witnessed a gain of 5.74% over the previous month, beating the performance of the Computer and Technology sector with its gain of 3.64% and the S&P 500's gain of 2.68%.
The investment community will be paying close attention to the earnings performance of Oracle in its upcoming release. The company's upcoming EPS is projected at $1.48, signifying a 10.45% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.12 billion, indicating a 9.14% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $6.20 per share and a revenue of $58.02 billion, demonstrating changes of +11.51% and +9.55%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Oracle. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.17% fall in the Zacks Consensus EPS estimate. Oracle is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Oracle is presently trading at a Forward P/E ratio of 28.29. This valuation marks a discount compared to its industry's average Forward P/E of 29.68.
It is also worth noting that ORCL currently has a PEG ratio of 2.61. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 2.46 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Dips More Than Broader Market: What You Should Know
Oracle (ORCL - Free Report) closed the most recent trading day at $173.10, moving -1.26% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.92% for the day. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq lost 1.6%.
Shares of the software maker witnessed a gain of 5.74% over the previous month, beating the performance of the Computer and Technology sector with its gain of 3.64% and the S&P 500's gain of 2.68%.
The investment community will be paying close attention to the earnings performance of Oracle in its upcoming release. The company's upcoming EPS is projected at $1.48, signifying a 10.45% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.12 billion, indicating a 9.14% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $6.20 per share and a revenue of $58.02 billion, demonstrating changes of +11.51% and +9.55%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Oracle. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.17% fall in the Zacks Consensus EPS estimate. Oracle is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Oracle is presently trading at a Forward P/E ratio of 28.29. This valuation marks a discount compared to its industry's average Forward P/E of 29.68.
It is also worth noting that ORCL currently has a PEG ratio of 2.61. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 2.46 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.