KeyBanc Reiterates Overweight Rating on Oracle (March 11)

KeyBanc analyst Jackson Ader reiterated an Overweight rating and $300.00 price target on Oracle (NYSE: ORCL).

“Execution Delivers In-period Upside; This wasn’t that quarter , but results and commentary were a step in the right direction for both today and tomorrow.

Today, Oracle delivered revenue upside to expectations on Cloud revenue growth at 41.0% constant-currency growth spread across both infrastructure (OCI) and SaaS while margins showed upside to guidance and estimates as well.

For tomorrow, remaining performance obligation (RPO) grew sequentially by more than expected as well, even with an increasing number of deals being done where customers bring their own chips.

We remain Overweight rated and reiterate our price target.”

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