We recently published 10 Stocks With Massive Losses; AI Stocks Not Spared. Oracle Corp. is one of the worst performers on Monday.
Oracle dropped for a second day on Monday, shedding 4.85 percent to finish at $277.18 apiece, as investors took heart from an investment firm’s conservative rating, while repositioning portfolios ahead of its upcoming annual shareholders’ meeting.
In a market note, private banking firm Berenberg maintained its “neutral” rating and $306 price target for Oracle Corp., marking a 10.4 percent upside potential from its latest closing price.
Meanwhile, Jefferies gave the company a “buy” recommendation with a price target of $400, or a 44 percent premium over its last closing price.
Jefferies’ coverage reflected Oracle Corp.’s new five-year targets, with revenues of $225 billion and $21 in earnings per share, or a 31 percent and 28 percent compounded annual growth rate, respectively.
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In other developments, Oracle Corp. is set to hold its annual shareholders meeting on November 18, where investors will closely watch out for cues of more partnerships.
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This article is originally published at Insider Monkey.
