Market Overview

UPDATE: Stifel Reiterates on Oracle on Buying Opportunity

Related ORCL
Oracle Conference Call Highlights
Oracle Analyst Roundup After Q2 Earnings
2014 Tech Anthem: Disrupt and You Shall Succeed (Fox Business)

In a report published Wednesday, Stifel analyst Brad Reback reiterated a Buy rating on Oracle (NYSE: ORCL), and raised the price target from $40.00 to $43.00.

In the report, Stifel noted, “ORCL delivered another healthy quarter, but its headline results were negatively impacted by currency headwinds, a $110M foreign-currency re-measurement-loss related to Venezuela, and the ongoing transition to the cloud (which impacted apps license revenue growth). While these unique-items caused ORCL to fall slightly shy of our and Street expectations and pressured the shares after-hours, once normalizing for these items, we believe the quarter was solid across-the-board.

"In particular, we were pleased to hear adoption for ORCL's core-database solutions remains strong, uptake of its engineered systems is ramping and grew over 30%, and demand for its cloud solutions is increasing (bookings climbed 60%). Additionally, hardware exceeded Street expectations and grew for the first time in over 10 quarters, as engineered systems are becoming a more meaningful component (1/3) of the overall mix.

"Looking ahead, we believe ORCL will continue to successfully transition to the cloud and think it can sustain growth in its hardware business. We also believe management has addressed many of its recent sales-execution issues and should benefit over the next several quarters from its expanded distribution, productivity gains, and refreshed product-set.”

Oracle closed on Tuesday at $38.84.

Latest Ratings for ORCL

DateFirmActionFromTo
Dec 2014Credit SuisseMaintainsOutperform
Dec 2014BarclaysMaintainsOverweight
Dec 2014FBR CapitalMaintainsOutperform

View More Analyst Ratings for ORCL
View the Latest Analyst Ratings

Posted-In: Brad Reback StifelAnalyst Color Price Target Analyst Ratings

 

Related Articles (ORCL)

Around the Web, We're Loving...

Get Benzinga's Newsletters