Jefferies Reiterates a 'Buy' on Oracle (ORCL); What's in the 10-Q?
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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
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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.
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