What's Going On With Oracle Stock Today?
Portfolio Pulse from Adam Eckert
Oracle Corp (NYSE:ORCL) is in focus as it prepares to report its fiscal third-quarter financial results after market close. Expected earnings are $1.38 per share with revenue of $13.306 billion. Despite beating EPS estimates in recent quarters, Oracle has missed revenue estimates twice. Demand for its Cloud Infrastructure and Generative AI services is reportedly growing rapidly. Analysts have recently lowered price targets on Oracle. The stock was up 0.37% at $112.86.
March 11, 2024 | 2:04 pm
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Oracle is anticipated to report its fiscal third-quarter results with a focus on earnings, revenue, and demand for Cloud Infrastructure and Generative AI services. Analysts have recently lowered their price targets.
The anticipation of Oracle's earnings report and the adjustments in analyst price targets suggest a mixed outlook. While the company has a history of beating EPS estimates, recent revenue misses and lowered price targets could temper expectations. However, the reported rapid growth in demand for its Cloud Infrastructure and Generative AI services could offset concerns, leading to a neutral short-term impact on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100