Market Overview

I think you’ll love what you hear,
what you’ll see and the opportunities
that will be set before you.
- Jon Najarian
GET TICKETS

Oracle's Q1: Things To Like A Lot, Things To Like Less

Share:
Oracle's Q1: Things To Like A Lot, Things To Like Less

Oracle Corporation (NYSE: ORCL) shares fell 7 percent despite recording a first quarter earnings beat.

Wells Fargo noted that nothing about the quarter has changed the bank’s conviction that Oracle can return to double-digit EPS in FY2018-2019. Shares fell mostly on weak guidance, in the 2-4 percent range, that Oracle announced on the earnings call. 

“Despite investors' concerns, we believe Oracle is positioned to successfully and profitably transition its dominant, high-margin on-premise business to the cloud,” said Wells Fargo analyst Phillip Winslow.

Wells Fargo maintained an Overweight rating with a $62.50 price target.

Meanwhile, Brad Zelnick of Credit Suisse outlined positives and negatives from the quarter.

What Credit Suisse Liked

  • Strongest organic revenue growth since first quarter of 2015
  • Support revenue expected to be positive throughout the year
  • License revenue beat consensus estimates

What Credit Suisse Liked Less

  • Cloud revenues were guided below street estimates
  • Platform as a service ticked down in the quarter but is expected to exit the year improving
  • Transitionary quarter if not for FX benefits

Analysts at Credit Suisse maintained an Overweight rating on Oracle with a $62 price target.

Related Link:

The Core Reasons To Buy Oracle Haven't Changed

Image Credit: By Travelarz - Own work, CC BY-SA 3.0 pl, via Wikimedia Commons

Latest Ratings for ORCL

DateFirmActionFromTo
May 2019MaintainsEqual-Weight
Mar 2019Initiates Coverage OnNeutral
Mar 2019MaintainsNeutralNeutral

View More Analyst Ratings for ORCL
View the Latest Analyst Ratings

Posted-In: Credit Suisse Phillip Winslow Wells FargoAnalyst Color News Reiteration Analyst Ratings Best of Benzinga

 

Related Articles (ORCL)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
HELEMaintains160.0
JWNMaintains32.0
DYMaintains64.0
PSTGMaintains18.0
TJXMaintains56.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Autoliv Shares Are Overvalued, But Don't Sell Just Yet

15 Biggest Mid-Day Losers For Friday