Shares of computer technology firm Oracle (NYSE:ORCL) sold off as much as 6% in today’s trading session following its AI executive forum. However, amid the decline, Wall Street experts stepped in to defend the IT giant.
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Mizuho Securities analyst Siti Panigrahi, who has a Buy rating and $150 price target on Oracle, reiterated his confidence in the company, further bolstered by the AI executive forum. He added that the integration of artificial intelligence will help Oracle expand its products and grow its market share.
Sharing similar thoughts with Panigrahi, Guggenheimer analyst John DiFucci said that the company’s artificial intelligence integration will help it grow its customer base. However, he said that may take longer than expected. In a similar vein, analyst Mark Murphy of J.P. Morgan predicted that booking revenue will exceed estimates and favor Fiscal 2025 over Fiscal 2024.
What is the Prediction for ORCL?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on ORCL stock based on nine Buy, nine Holds, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average Oracle price target of $127.47 per share implies 25.02% upside potential.
