Cantor Remains Positive on Oracle Corporation Following Addition of 25 New Cloud Services
Cantor analyst Brian White weighed in with some insights on Oracle Corporation (NYSE:ORCL) following the addition of 25 new cloud services. White maintained a Buy rating on the stock with a price target of $48.00, which implies an upside of 15.5% from current levels.
White commented, “Oracle announced the addition of 25 new cloud services that we believe rounds out the Oracle Cloud Platform, placing the company in a unique position to more competitively deliver cloud solutions to enterprise customers relative to leading cloud players.”
Bottom Line: “Relative to a year ago, Oracle’s transition to the cloud is occurring much faster than we expected, and we believe this foundation is setting the company up to become an even more powerful IT vendor in the future.”
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 17.9% and a 72.0% success rate. White has a 0.4% average return when recommending ORCL, and is ranked #25 out of 3640 analysts.
Out of the 34 analysts polled by TipRanks, 22 rate Oracle stock a Buy, 11 rate the stock a Hold and 1 recommends Sell. With a return potential of 12.7%, the stock’s consensus target price stands at $46.85.