Customer Survey Shows Positive Outlook for Oracle's (ORCL) Fusion Applications

Earlier this month analysts at Oppenheimer interviewed 30 customers at Oracle's (NASDAQ: ORCL) Open World conference in San Francisco, and the survey pointed to an attractive runway for new Fusion apps sales.

"Specifically, 33% of the customers surveyed are considering upgrading to or purchasing Fusion applications over the next twelve months, which indicates to us that incremental Fusion applications product spending will likely occur," said analyst Brian Schwartz.

"The positive feedback bolsters our confidence in upward earnings revisions driven by IT budget share gains, though any near-term outperformance in applications bookings is likely to be a headwind for revenue growth owing to ratable revenue recognition for cloud services," said Schwartz.

Oppenheimer has an Outperform rating on Oracle and a price target of $36.00.

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 $31.30 yesterday.

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