Barclays downgrades Oracle, says the stock's comeback has gone far enough

An exterior view of the Oracle Field Office at Wilson Boulevard in Arlington, Virginia, October 18, 2019.
Tom Brenner | Reuters

It's time for investors to trim their bets on Oracle after a strong start to the year, investment firm Barclays said in a note to clients on Monday.

The firm downgraded the software stock to equal weight from overweight after Oracle reached Barclays' price target, saying there was not a clear reason for more upside. The stock has jumped more than 24% year to date.