Nomura Securities Maintains a 'Buy' on Oracle (ORCL); Q3 Better Than (Another) Kick In The Pants
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Price: $34.09 -0.9%
Rating Summary:
18 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
18 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
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Nomura Securities maintains a 'Buy' on Oracle (NASDAQ: ORCL) price target of $32.00.
From analyst, Rick Sherlund's first reaction: "After the close, Oracle reported FsQ3 (Feb) results that were ahead of expectation in license revenue and EPS. License revenue came in at $2.37bn (+7% y/y, +8% CC), ahead of our 4% estimate and likely a bit of a relief to the Street after last quarter’s miss. Currency was a 1 point headwind to license and total revenue, which was slightly better than the 2% FX headwind assumed in guidance. Hardware products revenue was $869mn (-16% y/y, -16% y/y CC), which was below the Street at down 12%, but directionally a poor showing as expected. Overall revenues and gross margin were in line with our estimates. EPS of $0.62 beat our and consensus estimate of $0.56, with half of this due to lower operating costs and half due to a lower tax rate."
For an analyst ratings summary and ratings history on Oracle click here. For more ratings news on Oracle click here.
Shares of Oracle closed at $29.76 yesterday, with a 52 week range of $24.72-$36.50.
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From analyst, Rick Sherlund's first reaction: "After the close, Oracle reported FsQ3 (Feb) results that were ahead of expectation in license revenue and EPS. License revenue came in at $2.37bn (+7% y/y, +8% CC), ahead of our 4% estimate and likely a bit of a relief to the Street after last quarter’s miss. Currency was a 1 point headwind to license and total revenue, which was slightly better than the 2% FX headwind assumed in guidance. Hardware products revenue was $869mn (-16% y/y, -16% y/y CC), which was below the Street at down 12%, but directionally a poor showing as expected. Overall revenues and gross margin were in line with our estimates. EPS of $0.62 beat our and consensus estimate of $0.56, with half of this due to lower operating costs and half due to a lower tax rate."
For an analyst ratings summary and ratings history on Oracle click here. For more ratings news on Oracle click here.
Shares of Oracle closed at $29.76 yesterday, with a 52 week range of $24.72-$36.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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