Oracle Earnings Are Just Ahead. It’s All About AI.

Oracle has been one of the more surprising beneficiaries of this year’s investor frenzy over artificial intelligence stocks.

Street consensus estimates call for August quarter revenue of $12.4 billion, up 8.8% from a year earlier, with adjusted profit of $1.15 a share. On the company’s last earnings call, CEO Safra Catz said her early read on Oracle’s May 2024 fiscal year is for unprecedented cloud demand, with growth on par or better than FY 2023.

“Our checks remain highly bullish on OCI demand trends,” TD Cowen analyst Derrick Wood wrote in a research note previewing the quarter. “Shares have moved a good deal this year, but we still think the OCI story is underappreciated.” Wood maintains an Outperform rating and $137 target price on Oracle shares.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Earnings Estimates Are Rising, a Welcome Sign for 2023 Market RallyStock advances have surprised many investors, partly because expectations for company earnings hadn’t kept up.
La source: WSJ - 🏆 98. / 63 Lire la suite »

Just how much is the AI discourse helping stocks? An analyst scoured earnings calls for cluesMore S&P 500 index companies during the second quarter mentioned 'AI' than at any point since at least 2010, according to an analysis published on Friday.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »