Oracle Likely To Report Higher Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Oracle Corporation ORCL is projected to release financial results for its second quarter fiscal year 2024 results, after the closing bell on Dec. 11, 2023.

Analysts expect the company to post quarterly earnings at $1.32 per share, up from year-ago earnings of $1.21 per share. The company’s revenue might come in at $13.05 billion for the latest quarter, according to data from Benzinga Pro.

Oracle, last month, disclosed a multi-year agreement with Microsoft to support the explosive growth of AI services.
Oracle shares rose 0.8% to close at $112.87 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Morgan Stanley analyst Keith Weiss maintained an Equal-Weight rating and raised the price target from $106 to $107 on Oct. 23, 2023. This analyst has an accuracy rate of 78%.
• BMO Capital analyst Keith Bachman maintained a Market Perform rating and slashed the price target from $132 to $130 on Sept. 25, 2023. This analyst has an accuracy rate of 81%.
• Piper Sandler analyst Brent Bracelin reiterated an Overweight rating with a price target of $130 on Sept. 22, 2023. This analyst has an accuracy rate of 76%.
• Berenberg analyst Nay Soe Naing maintained a Hold rating and boosted the price target from $82.5 to $110 on Sept. 21, 2023. This analyst has an accuracy rate of 78%.
• Citigroup analyst Tyler Radke maintained a Neutral rating and cut the price target from $138 to $120 on Sept. 13, 2023. This analyst has an accuracy rate of 72%.

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