JMP Securities Reiterates Market Underperform Rating on Oracle

Analysts at JMP Securities reiterated their MARKET UNDERPERFORM rating and a $31 price target on shares of Oracle (ORCL) - Get Report on Monday. Right now, shares of the software company trade at around $39. The analyst team wrote that Oracle might be doing a sales restructuring. Adding support to the claims, JMP writes that they learned that Oracle 'made significant headcount reductions in its sales consulting ranks on Friday.' Oracle is also facing a lawsuit filed by a whistleblower who questioned the company's accounting practices. The whistleblower alleges that Oracle management made her 'fit square data into round holes'  to make Oracle's cloud services business results look better. Oracle said last week that it is confident its cloud accounting is proper and correct.

This article was written by a staff member of TheStreet.