Jefferies Reiterates a 'Buy' on Oracle (ORCL); What's in the 10-Q?
Tweet
Share
E-mailGet Alerts ORCL Hot Sheet
Price: $150.52 -3.65%
Rating Summary:
48 Buy, 21 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
48 Buy, 21 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Jefferies reiterates a 'Buy' on Oracle (NASDAQ: ORCL) price target of $36.00.
Jefferies analyst said, "Level of Material New Information in ORCL's F2Q12 10-Q: Low. The key takeaway is that ORCL's ending deferred revenue balance suggests slightly better deferred license revenue coverage vs. the three year historic average. This is notable since F3Q12 license guidance implies better growth than the seasonal trend. Our view on the stock is unchanged and we reiterate our rating and PT."
"Other key points: i) At the end of F2Q12, ORCL had $2.3B remaining in its share repurchase program, though the BOD expanded the program by $5B on 12/20 (33.1M shares were repurchased during F2Q12 at an avg. price of $30.22/ share); ii) Approx 75% of ORCL's cash balance ($23.4B) was held by its foreign subsidiaries at the end of F2Q12, up from 73% at the end of F1Q12; iii) ORCL settled its GSA litigation during F2Q12 without any admission of liability (ORCL agreed to pay the US government $199.5M and an additional $2M in attorney's fees)."
For an analyst ratings summary and ratings history on Oracle click here. For more ratings news on Oracle click here.
Shares of Oracle closed at $26.06 yesterday.
Jefferies analyst said, "Level of Material New Information in ORCL's F2Q12 10-Q: Low. The key takeaway is that ORCL's ending deferred revenue balance suggests slightly better deferred license revenue coverage vs. the three year historic average. This is notable since F3Q12 license guidance implies better growth than the seasonal trend. Our view on the stock is unchanged and we reiterate our rating and PT."
"Other key points: i) At the end of F2Q12, ORCL had $2.3B remaining in its share repurchase program, though the BOD expanded the program by $5B on 12/20 (33.1M shares were repurchased during F2Q12 at an avg. price of $30.22/ share); ii) Approx 75% of ORCL's cash balance ($23.4B) was held by its foreign subsidiaries at the end of F2Q12, up from 73% at the end of F1Q12; iii) ORCL settled its GSA litigation during F2Q12 without any admission of liability (ORCL agreed to pay the US government $199.5M and an additional $2M in attorney's fees)."
For an analyst ratings summary and ratings history on Oracle click here. For more ratings news on Oracle click here.
Shares of Oracle closed at $26.06 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oracle and AWS expand partnership, now spanning 22 regions
- Oracle Health's AI-Powered Patient Portal Now Generally Available
- Quantinuum and Oracle partner to bring quantum computing to OCI
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & Co, Stock BuybackSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
