Oracle Q4 Preview: 73% Datapoints Are Positive, Says This Analyst

Oracle Corp ORCL is scheduled to report its fourth-quarter results after the market close on Tuesday.

Of the 26 datapoints collated ahead of the company's seasonally strong fiscal fourth-quarter results, 73% are positive, according to JMP Securities.

The Oracle Analyst: Patrick Walravens maintained a Market Perform rating on the stock.

The Oracle Thesis: The company's Cloud Infrastructure will be a "key area to monitor," Walravens said in a note.

Check out other analyst stock ratings.

Oracle's Gen2 Infrastructure Services had recorded annualized revenues of $6.7 billion in the previous quarter, up 52% year-on-year, the analyst stated. CTO Larry Ellison had commented during the quarterly earnings call that the company was building datacenters "relatively fast," and that OCI growth is likely to be north of 50% for a few years, he added.

"We maintain our FY24 non-GAAP EPS estimate of $5.57 (consensus $5.59) on revenue growth of 7%," Walravens wrote. He added that Oracle's stock had risen by 18% year to date, outperforming the Nasdaq's 15% increase and an 11% gain for the Russell 3000.

ORCL Price Action: Shares of Oracle had risen by 2.84% to $112.58 at the time of publication on Monday.

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