Needham & Company Starts Oracle (ORCL) at Hold

Needham & Company analyst Jack Andrews initiates coverage on Oracle (NYSE: ORCL) with a Hold rating.

The analsyt commented, "We are initiating coverage of Oracle with a HOLD rating. With over 400,000 customers in more than 145 countries, Oracle is one of the largest technology companies in the world. Despite historically attractive fundamentals, we see no urgency to commit new capital to ORCL shares. Having first reengineered its software applications, and now flagship database, to operate in a cloud, or SaaS model, Oracle certainly has the potential and resources to become a significant force in next generation cloud computing environments. That said, we prefer to wait for a more consistent record of quarterly financial results meeting company guidance, further evidence of sustained organic growth in the various cloud business lines, and demonstrated traction in upcoming product cycles."

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 $47.59 yesterday.

You May Also Be Interested In

• UBS Starts Nuvama Wealth Management (NUVAMA:IN) at Buy
• Vera Therapeutics (VERA) PT Lowered to $80 at Goldman Sachs
• Oracle Health launches AI patient portal in the U.S.