According to Murphy, “Oracle’s view is that there is a long way to go in a growing [cloud computing] market.” The company also saw success in attracting a number of big-name clients, including social media platform TikTok, video-call giant Zoom, and Uber.

Murphy also liked that Oracle increased the number of external customers on Oracle Cloud. Compared to less than 50 percent in 2019, external customers now account for almost 70 percent. Additionally, Oracle is in the process of building eight new data centers to complement the 41 it already has.

Analysts have been optimistic about Oracle stock across the board. The consensus rating was Moderate Buy, while the target price settled at $97.19. There were some analysts with a more bullish outlook than this, with Cowen & Co. setting a $100.00 target price.

Oracle stock closed at $88.01 per share on Friday. This represents moderate growth in the past week and a 5 percent jump year-to-date.

The post J.P. Morgan Analysts Remain Bullish on Oracle Stock appeared first on theprimarymarket.com.

Oracle reported revenue of $11.84 billion compared to the $11.66 billion predicted by analysts. This marked a five percent increase from the previous year. The company did even better to beat the earnings per share predictions. It posted $1.54 per share in contrast to the expected $1.37.

Much of Oracle’s performance was driven by its success in the cloud infrastructure sector. According to the tech giant, the Infrastructure Cloud Revenue is up by 36 percent, resulting in $2.9 billion in total cloud revenue. And the company believes this is only the beginning.

“We believe that this revenue growth spike indicates that our infrastructure business has now entered a hyper-growth phase,” said CEO Safra Catz.

ORCL reached its peak in December 2021, when it traded for $102.63 per share. However, just like many other tech stocks, it has lost much of its value since then. Its lowest point was in early July when it slid to $64.05.

The post Oracle Stock Surges After Positive Fourth-Quarter Results appeared first on theprimarymarket.com.

According to Murphy, “Oracle’s view is that there is a long way to go in a growing [cloud computing] market.” The company also saw success in attracting a number of big-name clients, including social media platform TikTok, video-call giant Zoom, and Uber.

Murphy also liked that Oracle increased the number of external customers on Oracle Cloud. Compared to less than 50 percent in 2019, external customers now account for almost 70 percent. Additionally, Oracle is in the process of building eight new data centers to complement the 41 it already has.

Analysts have been optimistic about Oracle stock across the board. The consensus rating was Moderate Buy, while the target price settled at $97.19. There were some analysts with a more bullish outlook than this, with Cowen & Co. setting a $100.00 target price.

Oracle stock closed at $88.01 per share on Friday. This represents moderate growth in the past week and a 5 percent jump year-to-date.

The post J.P. Morgan Analysts Remain Bullish on Oracle Stock appeared first on theprimarymarket.com.

Oracle reported revenue of $11.84 billion compared to the $11.66 billion predicted by analysts. This marked a five percent increase from the previous year. The company did even better to beat the earnings per share predictions. It posted $1.54 per share in contrast to the expected $1.37.

Much of Oracle’s performance was driven by its success in the cloud infrastructure sector. According to the tech giant, the Infrastructure Cloud Revenue is up by 36 percent, resulting in $2.9 billion in total cloud revenue. And the company believes this is only the beginning.

“We believe that this revenue growth spike indicates that our infrastructure business has now entered a hyper-growth phase,” said CEO Safra Catz.

ORCL reached its peak in December 2021, when it traded for $102.63 per share. However, just like many other tech stocks, it has lost much of its value since then. Its lowest point was in early July when it slid to $64.05.

The post Oracle Stock Surges After Positive Fourth-Quarter Results appeared first on theprimarymarket.com.