Oracle upgraded to Buy at Citi after ‘historic’ quarter for bookings

As previously reported, Citi upgraded Oracle (ORCL) to Buy from Neutral with a price target of $410, up from $240, after “an historic Q1 bookings quarter.” The $330B-plus of bookings in Q1 was “surprising” and gives the firm further confidence in the durability and profitability of Oracle’s AI business, the analyst tells investors in a post-earnings note. Cloud database traction is also improving and the firm’s lack-of-profitability concerns were “better addressed” with mid-teens FY26 EBIT growth guidance, the analyst added.