Piper Jaffray Overweight On Oracle Corporation As It Previews Earnings

Piper Jaffray has an Overweight rating and a $37 price target on shares of Oracle Corporation ORCL, as it previews earnings. In a note to clients, Piper Jaffray writes, "We interviewed 11 Oracle partners and believe that the company experienced a strong Q4 in both database and applications. Checks were positive in hardware, but not as positive as in software. We believe that ORCL offered less discounting in general this quarter than in previous quarters, indicating a good Q4. Fusion, Oracle's updated suite of applications, continues to improve, and resellers believe that Oracle has the correct vision for this endeavor, but it's not yet close to providing on-demand benefits as an application from the likes of NetSuite or Salesforce.com. We also believe that Exadata machines sold robustly in Q4, and see an ongoing upward bias to earnings estimates. Overweight, $37 target." Shares of ORCL gained 73 cents yesterday to close at $31.91, a gain of 2.32%.