These Analysts Boost Price Targets On Oracle Following Upbeat Q2 Results, But Cowen & Co Cuts PT

Oracle Corporation ORCL reported better-than-expected Q2 results after the closing bell on Monday.

Oracle said fiscal second-quarter revenue increased 18% year-over-year to $12.3 billion, which beat average analyst estimates of $12.04 billion. The company’s quarterly earnings came in at $1.21 per share, which beat average estimates of $1.18 per share.

Oracle shares fell 1.5% to trade at $80.10 on Tuesday.

These analysts made changes to their price targets on Oracle after the company released quarterly results.

• Piper Sandler raised the price target on Oracle from $75 to $85. Piper Sandler analyst Brent Bracelin maintained a Neutral rating on the stock.
• Stifel boosted the price target from $72 to $75. Stifel analyst Brad Reback maintained the stock with a Hold.
• B of A Securities raised the price target on the stock from $90 to $95. B of A Securities analyst Brad Sills maintained the stock with a Neutral.
• Cowen & Co., however, cut the price target on Oracle from $98 to $96. Cowen & Co. analyst J. Derrick Wood maintained the stock with an Outperform.