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Oracle deal with Uber ‘bodes well’ for continued cloud momentum, says Cowen
The Fly

Oracle deal with Uber ‘bodes well’ for continued cloud momentum, says Cowen

After Oracle (ORCL) and Uber Technologies (UBER) announced a seven-year strategic cloud partnership that entails Uber migrating some of its most critical workloads to OCI, Cowen analyst J. Derrick Wood said the firm believes this was a $1B-plus contract for Oracle and a competitive win over Amazon Web Services (AMZN), or AWS. The firm, which thinks this "high-profile referenceable customer" is further validation of OCI’s traction and "bodes well" for continued cloud momentum, keeps an Outperform rating and $96 price target on Oracle shares.

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