Oracle Corp's shares sank more than 8 percent on Thursday a day after the company reported sharply disappointing third-quarter new software revenue, which it blamed on poor sales execution The severe miss, reported after the market close on Wednesday, triggered a series of price-target cuts from Wall Street. The stock was on track for its largest single-day loss since December 2011, when it also reported disappointing quarterly results. The shares were down 8.2 percent at $32.83 at midday. Credit Agricole reduced its rating on Oracle, the world's No. 3 software maker, to "underperform" from "outperform" and cut its share target price to $35 from $38. Evercore Partners cut its rating to "equal-weight" from "overweight." Other brokerages, including Wedbush, Stifel and RBC, reduced their price targets but maintained their recommendations.