Oracle HCM World Event: Here's What 2 Analysts Are Watching
Oracle Corporation (NYSE: ORCL) is hosting an analyst track at Oracle HCM World in Washington, DC, on Thursday. The human resources event is scheduled to start with a keynote address from the company's CEO Mark Hurd, followed by breakout sessions and diverse meetings.
In a report issued Thursday, as well, Cantor Fitzgerald analysts Brian J. White and Isabel Zhu provide a few comments in anticipation of the conference.
The HCM (Human Capital Management) market is "quickly moving into the cloud with both Oracle and Workday showing strong momentum in the market," the specialists say.
In their view, "Oracle's push into the cloud is the most aggressive of any of the large, global IT vendors" in their coverage universe and they believe Oracle has the highest probability of success. They expect the HCM World event to provide investors with a better appreciation for the company's success in migrating HCM into the cloud.
White and Zhu highlight two main points in relation with the conference: (1) HCM is shifting in the cloud and Oracle is well positioned to benefit from this move; (2) the company's "obsession with the Cloud is starting to show results."
Cantor Fitzgerald rates Oracle's stock as a Buy and has a $48 price target on it.
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