Oracle Analysts Boost Their Forecasts After Strong Q4 Results

Oracle Corporation ORCL reported better-than-expected results for its fourth quarter on Monday.

Oracle said fourth-quarter revenue increased 17% year-over-year to $13.8 billion which beat average analyst estimates of $13.73 billion. The company reported quarterly adjusted earnings of $1.67 per share, which beat consensus estimates of $1.58 per share.

Oracle's board declared a quarterly cash dividend of 40 cents per share.

Oracle shares rose 5.6% to $122.89 in today’s pre-market trading session.

These analysts made changes to their price targets on Oracle following earnings announcement.

• BMO Capital raised the price target on Oracle from $96 to $132. BMO Capital analyst Keith Bachman maintained a Market Perform rating.
• UBS increased the price target on Oracle from $110 to $120. UBS analyst Karl Keirstead maintained a Neutral rating.
• Guggenheim boosted Oracle price target from $120 to $150. Guggenheim analyst John Difucci maintained a Buy rating.
• Goldman Sachs analyst Kash Rangan, meanwhile, upgraded Oracle from Sell to Neutral and announced a $120 price target.

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