Oracle (ORCL) Getting Its Mojo Back - Goldman Sachs
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Price: $35.03 +1.92%
Rating Summary:
18 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
18 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ORCL Now!
Oracle (NASDAQ: ORCL) surprised Wall Street last night with an earlier-than-expected release of Q4 results that were much stronger than expected.
Analysts at Goldman said the company is "getting its mojo back."
Commenting on the quarter, the firm said all important license metric also handily exceeded expectations, with year-over-year growth of 7% versus the Street at 3%. Hardware also surprised to the upside for the first time in seven quarters, the firm noted.
"The stronger-than-expected software license performance, in particular in the application segment, coupled with the hardware beat should help to draw investor interest back to the name especially when considering license guidance that was considerably better than feared and easier comps that present themselves starting in the November 2012 quarter," the analyst said.
The firm raised FY13 EPS estimates from $2.32 to $2.39 and FY14 from $2.64 to $2.71.
Goldman Sachs reiterated their Conviction Buy List rating and price target of $36.
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 $27.12 yesterday, with a 52 week range of $24.72-$34.13.
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Analysts at Goldman said the company is "getting its mojo back."
Commenting on the quarter, the firm said all important license metric also handily exceeded expectations, with year-over-year growth of 7% versus the Street at 3%. Hardware also surprised to the upside for the first time in seven quarters, the firm noted.
"The stronger-than-expected software license performance, in particular in the application segment, coupled with the hardware beat should help to draw investor interest back to the name especially when considering license guidance that was considerably better than feared and easier comps that present themselves starting in the November 2012 quarter," the analyst said.
The firm raised FY13 EPS estimates from $2.32 to $2.39 and FY14 from $2.64 to $2.71.
Goldman Sachs reiterated their Conviction Buy List rating and price target of $36.
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 $27.12 yesterday, with a 52 week range of $24.72-$34.13.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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