In a report released today, Brian Schwartz from Oppenheimer maintained a Hold rating on Oracle Corp (ORCL). The company’s shares closed yesterday at $45.73.
Schwartz said:
“Oracle’s F2Q reported results were better than investors feared, though the business segment performance tells a divergent story. Applications had a good quarter with above-average industry growth for its SaaS and ERP businesses. Oracle’s F2Q results are another data-point indicating enterprise market adoption of SaaS is picking up (Report). On balance, the core infrastructure business trends are a disappointment. The platform and infrastructure segment remains growth challenged, and points to share losses, likely to Amazon, Microsoft and Google. Oracle’s F2Q results are a mixed bag. Positively, ORCL estimates remain relatively unchanged despite a more adverse FX operating environment. Negatively, the infrastructure segment trends should elevate concerns about share losses, and the performance, durability and trajectory of the core business. Maintain Perform rating.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 24.3% and a 72.5% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Instructure Inc, and Salesforce.com.
Currently, the analyst consensus on Oracle Corp is a Moderate Buy with an average price target of $54, which is a 18.1% upside from current levels. In a report issued on December 12, Monness also maintained a Hold rating on the stock.
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Based on Oracle Corp’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $9.19 billion and net profit of $2.27 billion. In comparison, last year the company earned revenue of $9.62 billion and had a net profit of $2.23 billion.
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