JMP Considers 4 Recent Changes At Oracle, Maintains Market Underperform
JMP maintained Oracle Corporation (NASDAQ: ORCL) at Market Underperform with a $31 price target. The reiteration came after Oracle announced four changes in its sales restructuring efforts.
Oracle's proposed structural changes include:
- Making significant headcount reductions in its sales consulting ranks.
- Mark Dorsey, a 15-year IBM executive to join Oracle's technology team.
- Re-segmenting accounts on a revenue basis and moving to a vertical model.
- Applications quota and compensation plan for FY17 "is apparently cloud-only."
Although JMP didn't have any specific analysis on Oracle's changes, the bank plans to carry out their due diligence soon.
Shares traded recently at $39.53, up 1 percent on the day.
Latest Ratings for ORCL
|Sep 2016||RBC Capital||Maintains||Outperform|
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