What Wall Street Analysts Think of Oracle’s Stock Ahead of Earnings | Global News Avenue

Oracle (ORCL) will report fiscal second-quarter earnings after the close on Monday, and analysts expect the tech giant’s cloud services revenue to grow.

Of the 17 brokers tracked by Visible Alpha, nine have a “buy” or equivalent rating, while eight have a “hold” rating. The consensus price target is around $178, which is more than 7% below Friday’s intraday price.

The database giant expects revenue of $14.13 billion, up 9% year-over-year. Analysts expected net profit of $3.05 billion, or $1.07 a share, compared with $2.5 billion, or 89 cents a share, a year earlier. Oracle’s largest business, cloud services, is expected to generate revenue of $5.98 billion, up 25% from the same period last year.

Oracle shares rose more than 2.9% to $191.59 on Friday, a gain of more than 80% in 2024, touching record high driven by Artificial Intelligence (AI) enthusiasm. Last quarter, Oracle beat analysts’ expectations As the company says training needs Artificial Intelligence (AI) Large language models proliferate in the cloud.