Oracle Stock Is Moving Higher Monday: What's Going On?

Oracle Corp ORCL shares are trading higher Monday after Wolfe Research upgraded the stock ahead of the company's quarterly results. Multiple analysts also raised price targets at the end of last week.

What Happened: Wolfe Research analyst Alex Zukin upgraded Oracle from a Peer Perform rating to an Outperform rating and announced a $130 price target ahead of the company's fiscal fourth-quarter results.

Oracle is set to report financial results after the bell. The company is expected to report earnings of $1.58 per share on quarterly revenue of $13.73 billion, according to estimates from Benzinga Pro.

On Friday, several analysts also increased price targets on the stock.

• Keybanc analyst Michael Turits maintained Oracle with an Overweight and raised the price target from $105 to $120.
• Piper Sandler analyst Brent Bracelin maintained Oracle with an Overweight and raised the price target from $104 to $130.
• Citigroup analyst Tyler Radke maintained Oracle with a Neutral and raised the price target from $86 to $106.

It's often a favorable sign when analysts become increasingly positive on a company's stock ahead of its quarterly report. 

See Also: Oracle Analyst Turns Bullish On Stock Ahead Of Q4 Print On 'AI Narrative Tailwinds'

ORCL Price Action: Oracle shares were up 3.73% at $113.95 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Oracle.