UPDATE: Wolfe Research Starts Oracle (ORCL) at Peerperform

April 22, 2021 4:25 PM EDT
Get Alerts ORCL Hot Sheet
Price: $90.05 +0.35%

Rating Summary:
    25 Buy, 31 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 26 | New: 11
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(Updated - April 22, 2021 4:38 PM EDT)

Wolfe Research analyst Alex Zukin initiates coverage on Oracle (NYSE: ORCL) with a Peerperform rating and a price target of $75.00.

The analyst comments "In both its most recent quarter and fiscal year, ORCL revenue grew 0% on a constant currency basis, while EPS has grown at a steady double-digit clip, driven by share buybacks. With these two aspects in mind, combined with ORCL’s share performance, we ultimately believe ORCL needs to show mid-single digit growth for shares to meaningfully re-rate and outperform other software stocks over a multi-year horizon. Oracle’s fiscal fourth quarter (period ending May) and outlook for FY22 will be the first opportunity where investors will get a glimpse at whether Oracle’s growth businesses can finally overcome headwinds in its non-growth businesses to yield organic total company growth. We currently model total revenue +2.5% Y/Y and think mid-single digits is likely the hurdle for shares to trend higher."

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 $76.66 yesterday.

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