In a report released yesterday, Brent Bracelin from KeyBanc maintained a Hold rating on Oracle Corp (ORCL). The company’s shares closed yesterday at $53.84, close to its 52-week high of $55.53.
Bracelin commented:
“We are lowering estimates on ORCL ahead of the quarterly report scheduled for June 19 based on cloud and FX headwinds that could temper results and the FY20 revenue outlook. Our Sector Weight rating on ORCL reflects ongoing execution risks as it navigates a business model transition to cloud and digital. We prefer MSFT and CRM for large-cap investors, which appear better positioned to capitalize on the shift to cloud and digital, in our view. and FX headwinds could temper 4Q19 results; lowering estimates. FX pressured results last quarter by 400 basis points. A strengthening U.S. dollar may continue to weigh on results exiting this quarter and into FY20.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 30.2% and a 75.9% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Coupa Software Inc, and Salesforce.com.
Oracle Corp has an analyst consensus of Hold, with a price target consensus of $55.93, implying a 3.9% upside from current levels. In a report released yesterday, Monness also maintained a Hold rating on the stock.
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The company has a one-year high of $55.53 and a one-year low of $42.40. Currently, Oracle Corp has an average volume of 12.13M.
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