UPDATE: D.A. Davidson Reiterates On Oracle Corporation After FY1Q15 Is Below Consensus

In a report published Friday, D.A. Davidson & Co. analyst Jack Andrews reiterated a Neutral rating on

, and raised the price target from $46.00 to $47.00. In the report, D.A. Davidson & Co. noted, “FY1Q15 revenue of $8.599 billion grew 2.6% year-over-year (YoY), but was below our estimate of $8.765 billion and the Street consensus of $8.850 billion. Non-GAAP EPS came in at $0.62, up 4.4% from $0.61 last year, but below our estimate of $0.63 and the Street at $0.64. ORCL's financial results have now either missed or come in at the low end of management's guidance range in 7 of the last 9 quarters.” Oracle Corporation closed on Thursday at $41.55.