Wedbush Reiterates Neutral Rating on Oracle Following 4Q Results
In a report published today, Wedbush analyst Steven Koenig reiterated a Neutral rating and $40.00 price target on Oracle Corporation (ORCL) following disappointing 4Q results.
In the report, Koenig noted, “Although ORCL’s results have been fairly lackluster since 2H13, its stock has been a reasonably good defensive holding, especially during the March-April rotation out of software growth stocks. At current levels, we see ORCL as fairly valued, with upside and downside risks roughly balanced. On the downside, we believe ORCL is facing increasing competitive pressure from rapidly growing SaaS vendors in the enterprise applications space. On the upside, we are optimistic about the potential for a boost from ORCL’s impending 12c product cycle”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Steven Koenig currently has a one-year average return of 11.4% and a 65% success rate. He is ranked #772 out of 3118 analysts.