Piper Sandler analyst Brent Bracelin raised the firm’s price target on Oracle to $85 from $75 and keeps a Neutral rating on the shares. The company’s November quarter results were solid and "better-than-feared relative to recessionary headwinds," Bracelin tells investors in a research note. He raised the price target to reflect a slightly higher growth trajectory through fiscal 2027 and the assumption that the free cash flow margin has troughed and could begin to recover into next year. However, Bracelin wants to see further evidence of a sustainable path to double-digit revenue growth and improving free cash flow margins for Oracle.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ORCL:
- Oracle sees Q3 EPS $1.23-$1.27, consensus $1.24
- Oracle Stock Gains after Solid Q2 Earnings Report
- Oracle reports Q2 total cloud revenue $3.8B, up 43% in USD, up 48% in CC
- Oracle says strengthening of the U.S. dollar had ‘significant’ impact on Q2
- Oracle Announces Fiscal 2023 Second Quarter Financial Results