Piper Jaffray Overweight On Oracle (ORCL)

Piper Jaffray has an Overweight rating and a $36 price target on shares of Oracle ORCL.

In a note to clients, Piper Jaffray writes, "We surveyed 32 ORCL partners and found that they finished 3% above plan for Q3,
and they foresee ORCL exceeding expectations. Additionally, the contacts we spoke with sense Exadata pipelines building at a phenomenal rate. They estimate Exadata will drive 5.1% of Oracle's total revenue in the next 12 to 24 months, suggesting a $1.7B run-rate will rapidly emerge. We conclude that the Street may be underestimating Oracle's ability to monetize its new Integrated Systems offerings. We walk away incrementally more confident in upward EPS revisions. Overweight, $36 price target."

Shares of ORCL are down 27 cents in pre-market trading to $30.90, a loss of 0.87%.