Oracle primed to leverage new cloud solutions, says Cantor Fitzgerald

Cantor Fitzgerald issued a company update on Oracle Corporation (NYSE: ORCL) after the Oracle HCM World meeting and a discussion with CEO Mark Hurd. Currently the firm rates Oracle as a Buy with a $48 price target.Brian White and Isabel Zhu, analysts at Cantor Fitzgerald, wrote, "Just over a year ago, Oracle held its first Cloud Forum for analysts, and the progress made across its cloud portfolio is nothing short of remarkable, in our view. Yesterday's event only furthered our enthusiasm for Oracle's cloud initiatives, which we find the most aggressive of any of the large, global IT vendors in our coverage universe, and we believe Oracle has the highest probability of success."Oracle has worked incredibly hard to consolidate vendor relationships, something that analysts believe will benefit the company going forward. Discussion around Oracle's Database-as-a-Service was very positive and highlighted as driving meaningful growth in the company's Platform-as-a-Service (PaaS) offering. Overall with the challenges of maintaining and integrating multiple HR systems for companies around the world Oracle is believed to be one of the leaders in providing a cloud based service approach to solve company-wide technology issues. Currently Oracle Corporation is trading at $42.84, down 0.35 percent.