Analysts Slash Their PTs On Oracle As They Did Not Buy Its Growth Story

Analysts slashed their price targets on Oracle Corp ORCL post Q3 results.
Piper Sandler analyst Brent Bracelin downgraded to Underweight from Neutral with a PT of $70 (8.7% downside), down from $100.
Bracelin found it challenging to reach double-digit organic growth next year, sustaining a cloud shift considering more than 70% of revenue came from the traditional Oracle product categories.
BofA analyst Brad Sills lowered the PT to $90 from $105 (17.4% upside) and kept a Neutral.
Sills also did not buy the company's cloud outlook and margin expansion story.
Wolfe Research analyst Alex Zukin lowered the PT to $83 from $105 (8.3% upside) peer multiple contractions and kept a Peer Perform.
Zukin noted "strong" fiscal Q3 results with accelerating constant-currency revenue coupled with double-digit sales growth and expanding margins for fiscal 2023.
Price Action: ORCL shares traded higher by 1.95% at $78.12 on the last check Friday.

Momentum75.47

Growth48.79

Quality-

Value14.85

Short

Medium

Long

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