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The analysts, who have a Buy rating and a $116 price target on the stock, see Oracle delivering FQ4 revenue and EPS above consensus, driven by its strong cloud business.
“Although consensus for Cloud Services and Support revenue implies accelerating growth of 21% Y/Y, our checks indicate that both Fusion applications and OCI continue to gain traction,” said the analysts.
“Despite the uncertain macro, demand for back-office applications remains robust with strong cloud migration.”
They added that even though the stock has moved higher, they “believe ORCL, trading at 18x NTM P/E vs peers at 26x, continues to offer a strong risk-reward profile with its accelerating growth and AI exposure.”
