Oracle shares are trading higher after the company reportedly said it sees FY29 revenue of at least $104 billion. Also, multiple firms raised their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
Oracle's shares are rising following the company's projection of FY29 revenue reaching at least $104 billion. Additionally, several firms have increased their price targets for Oracle's stock.
September 13, 2024 | 11:37 am
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Oracle's stock is experiencing an upward trend due to the company's optimistic revenue forecast for FY29, projecting at least $104 billion. This positive outlook is further supported by multiple firms raising their price targets for Oracle.
The announcement of a strong revenue forecast for FY29 at $104 billion is a significant positive indicator for Oracle's future performance. This has been reinforced by multiple firms raising their price targets, suggesting increased confidence in Oracle's growth prospects. Such developments are likely to drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100