Oracle Continues To Struggle, Despite Upbeat Commentary From Management

Oracle Corporation ORCL posted Q1 EPS of $0.55 on revenue of $8.6 billion, missing the Street’s consensus by $0.03 and $100 million, respectively.

On Friday, shares lost more than 4.7 percent. Among those weighing in was JMP Securities, which reiterated a Market Underperform rating and $31 price target on the stock.

Related Link: Oracle Shares Tick Lower Following Q1 Earnings Miss

“Despite relentlessly upbeat commentary from management, Oracle continues to struggle to meet top- and bottom-line expectations, having now missed the revenue consensus 12 times in the last 15 quarters and the non-GAAP EPS consensus six times in the last 15 quarters,” said analysts Patrick Walravens and Mathew Spencer.

Regarding the pending acquisition of NetSuite Inc N, the company said it had managed to clear anti trust reviews “everywhere except the United States, where our waiting period expires at the end of September." However, JMP analysts believe Oracle will need to boost its $109 per share bid to close the purchase of this “unique and strategically-important asset.”