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Investing.com - BMO Capital has raised its price target on Oracle (NYSE:ORCL) to $345.00 from $275.00 while maintaining an Outperform rating on the stock. The tech giant, currently valued at over $950 billion, has seen its shares surge more than 8% in the past week, though InvestingPro analysis suggests the stock is trading above its Fair Value.
The research firm cited Oracle’s "incredibly strong bookings quarters," which was reflected in the company’s 359% year-over-year RPO (Remaining Performance Obligation) growth, prompting BMO to raise its long-term forecast for the company.
BMO Capital noted that despite what it called a "lackluster" August quarter and November quarter revenue guidance, Oracle management is guiding for mid-teens fiscal year 2026 operating income growth.
The firm expressed "incremental confidence in the durability of Oracle’s revenue and operating income growth" based on these factors.
BMO Capital expects more details on Oracle’s longer-term financial model, including financing information, to be revealed at the company’s October Analyst event.
In other recent news, Oracle has reported impressive first-quarter results, showcasing accelerating top-line growth and record sales performance across several key metrics, including Cloud Revenue and multi-cloud database revenue. Analysts have taken note of these developments, with Guggenheim raising its price target for Oracle to $375, citing strong cloud performance and a promising outlook in the software sector. Piper Sandler also increased its price target to $330, highlighting Oracle’s transformation into a leader in AI infrastructure.
Additionally, Oracle has launched an AI Center of Excellence for Healthcare, aiming to assist healthcare organizations in implementing AI solutions. The company plans to enhance its Health Patient Portal by integrating AI capabilities, allowing patients to receive explanations of their medical records through OpenAI’s technology, with a general availability expected in 2026. Despite these advancements, Oppenheimer maintained a Perform rating for Oracle, acknowledging impressive results but expressing concerns about capital expenditures. These developments reflect Oracle’s ongoing efforts to expand its AI and cloud capabilities.
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