Oracle Exhibits Strong And Sustained Cloud Momentum: 5 Wall Street Analysts React To FQ4 Results
Portfolio Pulse from Priya Nigam
Oracle Corporation (NYSE:ORCL) shares climbed after reporting better-than-expected FQ4 results. Analysts from Goldman Sachs, Guggenheim Securities, Morgan Stanley, Piper Sandler, and William Blair reacted positively, with most raising their price targets. Oracle's strong performance in SaaS/ERP, accelerating growth in IaaS, and potential to convert on-premise database customers to the cloud contributed to the positive outlook.
June 13, 2023 | 3:40 pm
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Oracle's better-than-expected FQ4 results led to positive reactions from Wall Street analysts, with most raising their price targets. The company's strong performance in SaaS/ERP and accelerating growth in IaaS contributed to the positive outlook.
Oracle's better-than-expected FQ4 results led to positive reactions from Wall Street analysts, with most raising their price targets. The company's strong performance in SaaS/ERP, accelerating growth in IaaS, and potential to convert on-premise database customers to the cloud contributed to the positive outlook. This is likely to have a positive short-term impact on Oracle's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100