Cantor Remains Optimistic On Oracle Following Fiscal 2Q Results
In a research report published today, Cantor analyst Brian White maintained a Buy rating on Oracle (NYSE:ORCL) with a $48 price target, as the company reported fiscal second-quarter results with healthy trends in the database market and continued momentum across its cloud portfolio.
White noted, “Given the challenged IT results this earnings season, we view Oracle’s performance as a major victory for the company. Looking forward, we remain optimistic around Oracle’s cloud initiatives and believe that Oracle has an opportunity to be a major beneficiary from the trend toward cloud computing. Despite this strong performance, we are adjusting our estimates due to the FX impact from a strengthening dollar.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Brian White has a total average return of 17.6% and a 69.6% success rate. White has a 3.2% average return when recommending ORCL, and is ranked #23 out of 3417 analysts.