Nomura Securities Maintains a 'Buy' on Oracle (ORCL); Moderate Growth; Still Like Risk/Reward
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Price: $34.05 -0.53%
Rating Summary:
18 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
18 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ORCL Now!
Nomura Securities maintains a 'Buy' on Oracle (NASDAQ: ORCL) price target of $32.00.
Analyst, Rick Sherlund, said, "Our industry checks for the quarter indicated 1.) no degradation in the business environment over the quarter; 2.) a consulting firm we speak with informs us that the volume of Oracle deal contracts that they review for customers was relatively low in the February quarter in the US, so maybe not great, but likely offset by the fact that we think at least 6 of the 8 large deals that slipped from the November quarter were closed in the February quarter; 3) F/X was expected to be a 2 percentage point headwind, but given currency changes over the quarter this was more neutral; and 4.) it is our view that a more focused sales organization and tighter monitoring of deal closure by sales management likely helped Oracle avoid the deal slippage problem of last quarter. We expect results to be a bit ahead of the low bar that was set after the disappointing results of last quarter."
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 $29.95 yesterday, with a 52 week range of $24.72-$36.50.
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Analyst, Rick Sherlund, said, "Our industry checks for the quarter indicated 1.) no degradation in the business environment over the quarter; 2.) a consulting firm we speak with informs us that the volume of Oracle deal contracts that they review for customers was relatively low in the February quarter in the US, so maybe not great, but likely offset by the fact that we think at least 6 of the 8 large deals that slipped from the November quarter were closed in the February quarter; 3) F/X was expected to be a 2 percentage point headwind, but given currency changes over the quarter this was more neutral; and 4.) it is our view that a more focused sales organization and tighter monitoring of deal closure by sales management likely helped Oracle avoid the deal slippage problem of last quarter. We expect results to be a bit ahead of the low bar that was set after the disappointing results of last quarter."
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 $29.95 yesterday, with a 52 week range of $24.72-$36.50.
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