Jefferies Reiterates Buy on Oracle (ORCL) Folowing 2Q Report

Jefferies reiterated a Buy rating and $51.00 price target on Oracle (NYSE: ORCL) following the company's 2Q earnings report. Non-GAAP EPS of $0.61 and rev of $9.1B were about in line with consensus of $0.61 and $9.2B, although FX reduced revenue by about $90M and EPS by $0.01.

Analyst John DiFucc commented, "ORCL's F2Q headline results and guidance were largely in line, but with complexities below the surface that muddy the results. We have never seen such an aggressive Cloud transition with such velocity, making it difficult to predict relevant metrics, but they're generally progressing in the right direction. We also expect 12cR2 to be a major multi-year database product cycle and its imminent on-prem availability will be a catalyst that develops over time"

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 $40.86 yesterday.

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