Analyst Update: Ambarella, Benefitfocus, and Oracle

Analysts adjusted their ratings and price targets on Ambarella Inc (NASDAQ:AMBA), Benefitfocus Inc (NASDAQ:BNFT), and Oracle Corporation (NYSE:ORCL)

Jun 12, 2015 at 1:53 PM
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Analysts are weighing in today on semiconductor producer Ambarella Inc (NASDAQ:AMBA), software firm Benefitfocus Inc (NASDAQ:BNFT), and tech giant Oracle Corporation (NYSE:ORCL). Here's a quick look at today's brokerage notes on AMBA, BNFT, and ORCL.

  • As if on cue, AMBA is up another 5.7% today at $117.96, bringing its year-to-date lead to 132.6%, while hitting another all-time high of $119.11 earlier. Part of today's price action may be stemming from comments by Brad Erickson, an analyst at Pacific Crest, who waxed optimist on the stock while appearing on CNBC. This comes after CNBC pundit Jim Cramer said Ambarella Inc may soon be a "cult class" stock. No matter how you slice it, short sellers certainly aren't happy. Over 28% of AMBA's float is sold short, accounting for four days' worth of buying power, at normal daily volumes.

  • BNFT is up big today, tacking on 10.2% to trade at $42.89, after William Blair raised its outlook to "outperform." This new grade matches the Street's stance, where six of seven analysts say the shares are a "strong buy" -- compared to just one "hold" opinion. However, analysts may need to re-evaluate their price targets soon. Benefitfocus Inc is now only 3.2% away from its consensus 12-month price target of $44.25.

  • On the other hand, there's ORCL, which hasn't been able to buck the broad-market move lower, despite a price-target hike to $53 from $49 at Piper Jaffray. The stock was last seen down 0.1% at $44.24. In Oracle Corporation's options pits, calls have been a long-time favorite of traders, per its 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 2.26. This reading ranks in the bullishly skewed 76th percentile of its annual range. Finally, the company is scheduled to report earnings next Wednesday night.

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