Credit Suisse analyst, Brad Zelnick, reiterated his Outperform rating on shares of Oracle (NYSE: ORCL) after F2Q results were slightly better than consensus. FX headwinds were stronger than expected but offset by license revenues being ahead of expectations and cloud/support in line. Constant currency F3Q revenue guidance was below Street estimates but full year double digit constant currency EPS growth was reiterated.

The analyst stated "The reacceleration in F2Q SaaS bookings reinforces our belief in Oracle’s positioning in Cloud ERP. We maintain our Outperform rating and $60 TP, given the ERP opportunity and the durability and sustainability of DB".

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Shares of Oracle closed at $48.60 yesterday.