Oracle Corporation (ORCL) HCM World Looms; Cantor Offers Commentary
Cantor analyst Brian White weighed in today with his views on Oracle Corporation (NYSE:ORCL), as the company is hosting an analyst track at Oracle HCM World in Washington, DC. The analyst rates the stock a Buy with a price target of $48, which implies an upside of 12% from current levels.
White noted, "The day will kick off with a keynote address from Mark Hurd (CEO of Oracle), followed by breakout sessions and meetings for the remainder of the day. The HCM market is quickly moving into the cloud with both Oracle and Workday showing strong momentum in the market. In our view, Oracle's push into the cloud is the most aggressive of any of the large, global IT vendors in our coverage universe and we believe Oracle has the highest probability of success. We expect today's event to provide investors with a better appreciation for Oracle's success in migrating HCM into the cloud."
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 17.2% and a 65.9% success rate. White has a 4.3% average return when recommending ORCL, and is ranked #33 out of 3547 analysts.