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Tuesday, May 30, 2023

Putting The Spotlight On Oracle Corporation (ORCL)

In the last week, Barclays Bank moved up its rating for software maker Oracle Corporation (ORCL). ORCL’s stock increased as a result of this a week before the report. ORCL closed at $72.16 on March 8.

On a year-to-date basis (YTD) basis, Oracle Corporation’s (NYSE: ORCL) shares are 12.29% up. In the most recent session, the stock moved up 0.67% or $0.48. However, the trailing 12-month performance still stands near 57.88% higher. The stock is up 21.15% over the trailing 3-month period. If we consider the shorter-term performance, it increases by nearly 8.97% over the week and by nearly 14.21% over the month.

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Barclays has set an “Overweight” recommendation for Oracle Corporation (ORCL)and raised its price target to $ 80. Analysts believe the company has excellent cloud products and recovered quickly during the pandemic. Oracle’s Fusion, Oracle Cloud Infrastructure (OCI), and others are promising Oracle products.

According to Oracle, its solutions are more secure than Amazon’s AWS Cloud ecosystem, offer better performance, and have a much lower cost. While the pandemic was happening, Oracle landed a contract with the popular video-conferencing firm Zoom Video Communications Inc. (ZM, NASDAQ), which will begin using Oracle’s services.

Financial results for Oracle are expected on March 10. Wall Street expects earnings per share to rise to $1.11 from $ 0.97 in a year earlier, and revenues will rise by 2.6 % to $10.05 billion. Almost half of the revenue from cloud services and support licenses will come from cloud products. These sales may grow by more than 5%, to more than $7 billion.

Oracle Corporation (ORCL)is expected to outperform analysts’ expectations, based on its forecasts for profit and revenue for over 15 consecutive quarters. Cloud services are on the rise, and Oracle is one of the biggest beneficiaries.

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