Oracle (ORCL) PT, Estimates Trimmed at Piper Jaffray

Piper Jaffray analyst Katherine Egbert lowered estimates and her price target on Oracle (NYSE: ORCL) to $46.00 (from $49.00) but maintained an Overweight rating.

Egbert commented, "A more complete look at Oracle's combined license and cloud business shows growth overall, with license decreases being made up by cloud revenue. Cloud billings also accelerated through every quarter in FY15. Our checks indicate continued cloud momentum thus far in Q1, so we have revised estimates further to reflect the on-going shift. Reiterate Overweight, lower target to $46 from $49. "

The firm lowered FY 2016 EPS from $2.50 to $2.33 and FY 2017 EPS from $2.69 to $2.51.

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 $40.36 yesterday.

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