Oracle Corporation ORCL saw a big move last session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $37.21 to $39.46 in the past one-month time frame.
On Dec 16, Oracle reported second quarter fiscal 2016 results, where-in total revenues fell 6.3% on a year-over-year basis to $9 million. In addition, earnings per share of 51 cents fell by a nickel from the year-ago quarter.
The software company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (0 increases, 1 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
ORCL currently has a Zacks Rank #4 (Sell).
Investors interested in the Computer–Software industry may consider better-ranked stock like Aspen Technology AZPN, which sports a Zacks Rank #1 (Strong Buy).
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