Oracle Stock Climbs On $104 Billion FY29 Revenue Forecast: What To Know
Portfolio Pulse from Erica Kollmann
Oracle Corp. (NYSE:ORCL) shares rose after the company forecasted a $104 billion revenue for FY29, driven by cloud infrastructure growth and collaborations with AWS, Microsoft, and Google. Analysts raised price targets, reflecting optimism about Oracle's future performance.
September 13, 2024 | 2:02 pm
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POSITIVE IMPACT
Oracle's stock increased following a positive revenue forecast for FY29, driven by cloud infrastructure growth and strategic partnerships. Analysts have raised their price targets, indicating strong confidence in Oracle's future performance.
Oracle's announcement of a significant revenue forecast for FY29, along with increased revenue targets for FY26, has positively impacted its stock price. The growth in its cloud infrastructure business, supported by collaborations with major tech companies, is a key driver. Analysts' raised price targets further reinforce the positive sentiment, suggesting a likely upward movement in Oracle's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100