Oracle Corp: Strong Q4 Revenue and Optimistic Outlook Driven by Cloud Demand

Oracle Corporation

Oracle Corporation Stock Forecast:

According to a forecast by 29 analysts, the average target price for Oracle Corporation stock over the next 12 months is USD 126.94. The average analyst rating for the company is Buy. Stock Target Advisor‘s analysis of Oracle Corporation indicates a slightly bullish outlook, with 9 positive signals and 5 negative signals. As of the last closing, Oracle Corporation’s stock price was USD 116.43. Over the past week, the stock price has increased by +8.88%, over the past month by +18.99%, and over the last year by +73.41%.

Oracle Corp. News:

Oracle Corp, reported impressive fourth-quarter results on Monday, surpassing revenue estimates and providing an optimistic forecast for the first quarter. The company’s strong performance was primarily fueled by the increasing demand for its cloud offerings, particularly from companies deploying artificial intelligence (AI) solutions.

According to Refinitiv, Oracle’s revenue for the fourth quarter surged approximately 17% to $13.84 billion, surpassing analysts’ expectations of $13.74 billion. This growth is a testament to the company’s ability to capitalize on the rising demand for cloud-based solutions in the market. Cloud revenue, a key driver for Oracle, experienced a remarkable increase of 54% to reach $4.4 billion in the same period.

Oracle’s success in the cloud market can be attributed to its robust portfolio of cloud services and its continuous efforts to enhance its AI capabilities. By providing organizations with advanced cloud solutions and AI tools, Oracle has positioned itself as a leading player in the industry, catering to the evolving needs of businesses across various sectors.

Oracle remains optimistic about its future prospects. The company forecasted a promising outlook for the first quarter, expecting a total revenue increase of 8% to 10%. This projection exceeds the average growth expectation of around 8% from analysts. Such a positive forecast indicates Oracle’s confidence in its ability to maintain its momentum and capitalize on the continued demand for cloud solutions.

During a conference call with analysts, Oracle’s Chief Executive, Safra Catz, expressed confidence in the company’s cloud revenue growth. Catz stated that Oracle expects its cloud revenue, excluding Cerner, to continue growing at similar rates in fiscal 2024 as it did in 2023. This commitment to sustaining growth demonstrates Oracle’s long-term strategy and its dedication to further expanding its presence in the cloud market.

Analysts Coverage Change:

  • Mizuho Securities (RANK #25) raised their target for Oracle Corp from USD 116 to USD 150.
  • Deutsche Bank (RANK #7)  raised their target for Oracle Corp from USD 120 to USD 135.
  • Stifel Nicolaus (RANK #23)  raised their target for Oracle Corp from USD 84 to USD 120.
  • Bank of America Merrill Lynch (RANK #19) raised their target for Oracle Corp from USD 112 to USD 132.
  • Guggenheim Securities (RANK #69) raised their target for Oracle Corp from USD 120 to USD 150.
  • Goldman Sachs & Co. (RANK #10) upgraded their rating for Oracle Corp to Neutral.
  • Jefferies & Company (RANK #17)  raised their target for Oracle Corp from USD 125 to USD 135.

 

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