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Summary

  • Oracle Corporation, a database technology and software provider, reported a 17% jump in total revenue in Q4FY23.
  • ORCL received rating upgrade from Piper Sandler Companies and Keybanc Capital following the release of its financial results for Q4FY23.
  • The stock has a consensus mean price target of US$ 122.37, which is 0.22% higher than Wednesday’s closing price.

Oracle Corporation, a database technology and software provider, received rating upgrade from analysts following the release of its financial results for Q4 FY23. Piper Sandler Companies and Keybanc Capital upgraded their ratings on Oracle Corporation to ‘Buy’ soon after the company released its earnings update.

As per data available on EODHD/Others, around 32 analysts have covered the stock. Among these, a majority of 20 analysts recommend holding the stock, while seven analysts recommend buying it. Five other analysts have given the stock a ‘Strong Buy’ rating.

The mean recommendation rating on the stock is 2.5 on a scale of one to five. Here, one represents a ‘Strong Buy’ rating and five indicates a ‘Strong Sell’ rating. The consensus mean price target on the stock is US$ 122.37, which is 0.22% higher than Wednesday’s closing price.

ORCL Price Chart; Image Source: EODHD/Others

ORCL closed at US$ 122.10 on Wednesday, June 21, 2023. The stock hit its 52-week high of US$ 127.54 earlier this month on June 15, 2023.

Consensus Analysts Rating on ORCL Remains 'Hold'Data on EODHD/Others shows that the analysts upgrading to a ‘Buy’ rating on ORCL include Piper Sandler and Keybanc Capital Markets, Inc. and Monness, Crespi, Hardt & Co. All these brokers upgraded their ratings after Oracle released its financial results for the fourth fiscal quarter of 2023.

Alternatively, brokers also suggested holding the stock, with D. A. Davidson & Company retaining its ‘Neutral’ rating on the stock. Cleveland Research and Argus Research downgraded to a ‘Hold’ rating on ORCL in the days following the company’s financial announcement. The consensus analysts’ rating on ORCL remains ‘Hold’ as 20 out of 32 analysts covering the stock stick to this rating as on 22 June.

Image source: ©2023 Kalkine®; Data source: ORCL EODHD/Others

Oracle reports 18% year-on-year jump in Q4FY23 total revenue

Oracle reported a total revenue of US$ 13.8 billion for Q4 FY23,17% higher than the total revenue reported for the same period in the previous year. Meanwhile, the software company reported earnings per share of US$1.19 and an operating income of US$ 4.140 billion in the 2023 quarter.

The net income for Q4 FY23 stood at US$ 3.319 billion, as against US$ 3.189 billion in Q4 FY22. Oracle saw a 76% year-on-year increase in its Cloud Infrastructure revenue to US$ 1.4 billion in the fourth fiscal quarter.

The operating cash flow was US$ 17.2 billion for the fiscal year 2023. Additionally, the total revenue for FY2023 was US$ 50 billion, which was 18% higher on a year-on-year basis.