Analyst Upgrades: NVIDIA Corporation, Oracle Corporation, and Salesforce.com, inc.

Analysts upwardly revised their ratings on NVIDIA Corporation (NVDA), Oracle Corporation (ORCL), and Salesforce.com, inc. (CRM)

by Andrea Kramer

Published on Nov 16, 2015 at 9:52 AM
Updated on Jun 24, 2020 at 10:16 AM

Analysts are weighing in on tech stocks NVIDIA Corporation (NASDAQ:NVDA)Oracle Corporation (NYSE:ORCL), and Salesforce.com, inc. (NYSE:CRM). Here's a quick roundup of today's bullish brokerage notes on NVDA, ORCL, and CRM.

  • Canaccord Genuity upgraded NVDA to "buy" from "hold," and lifted its price target by $5 to $35 -- in territory not charted since late 2007. Earlier this month, NVIDIA Corporation reported blowout earnings, sending the shares to a multi-year high of $31.94. Today, NVDA is up 1.5% at $30.25, and a short squeeze could help the stock resume its journey to higher highs. Short interest ramped up by 28.7% during the past two reporting periods, and now represents nearly six sessions' worth of pent-up buying demand, at NVDA's average pace of trading. 
  • Not even a week after a negative note from Morgan Stanley, ORCL is basking in the glow of some bullish brokerage attention, up 2.6% at $38.27. Goldman Sachs added the equity to its "conviction list," and lifted its price target by $2 to $47 -- which would mark a record high. Near-term option traders aren't so upbeat, it seems, as the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.10 stands higher than 92% of all other readings during the past year. In other words, short-term option players have rarely been more put-heavy. Technically, ORCL has surrendered 15.5% in 2015, but recently bounced off support at its 50-month moving average. Off the charts, Oracle Corporation will host its annual shareholder meeting on Wednesday.
  • CRM is up 0.5% at $76.01, following a price-target hike to $90 from $80 -- in uncharted territory -- at RBC. Salesforce.com, inc. also has a big day coming up, with the company's quarterly earnings slated for release after Wednesday's close. Heading into the report, option traders have displayed a healthier-than-usual appetite for bullish bets. The stock's 10-day call/put volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits at 3.01 -- in the 67th percentile of its annual range. CRM has moved higher in the session after earnings in each of the past three quarters.
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

A Schaeffer's 39th Anniversary Exclusive!

8 Top Stock Picks for 2020

Access your FREE insider report before it's too late!


  
 
 

Partnercenter