Nomura Securities Maintains a 'Buy' on Oracle (ORCL); Updates from OpenWorld User Conference

Nomura Securities maintains a 'Buy' on Oracle (NASDAQ: ORCL) price target of $34.00.

Nomura analyst, Rick Sherlund, said, "Updates from Oracle OpenWorld user conference. Oracle CEO Larry Ellison made three strategically important announcements Wednesday afternoon: 1) a public cloud Platform-as-a-Service (PaaS) solution in competition with Amazon, Microsoft, VMware, and Salesforce; 2) a Software-as-a-Service (SaaS) solution leveraging its recently released Fusion suite of applications in competition with Salesforce (NYSE: CRM), SAP (NYSE: SAP) and the HCM SaaS vendors (SuccessFactors (Nasdaq: SFSF), Taleo (Nasdaq: TLEO), Cornerstone OnDemand (Nasdaq: COSD) ); and 3) collaboration and social enterprise capabilities in its Fusion suite in competition with Salesforce most directly in SaaS and SAP in the on premise market. We view this as positive for Oracle and at least directionally negative for others Oracle competes with."

For more ratings news on Oracle click here and for the rating history of Oracle click here.

Shares of Oracle closed at $29.51 yesterday.

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