Oracle Stock Has 16% Upside, According to 1 Wall Street Analyst
Happily for its shareholders, (NYSE: ORCL) has been on the receiving end of a slew of analyst price target increases in recent weeks. Approaching the high end of those new targets was the latest from storied researcher Jefferies, which now feels the tech stock has potential upside approaching 20%. Here's a glance at that prognosticator's take, and brief evaluation of his stance.
The analyst, Brent Thill, bumped his Oracle price target $5 higher to $150 per share, implying a potential 16% increase on the stock's latest closing level. Given that, it should come as little surprise that Thill had, and maintained, a buy recommendation on the shares.
The Jefferies pundit was hardly alone in making such a move shortly after Oracle published its earnings for the third quarter of fiscal 2024. The tech company only edged past the analyst consensus for both revenue and adjusted profitability, but this meant a healthy 16% year-over-year improvement in the former metric, and a 7% increase for the latter.
Source Fool.com
Oracle Corp. Stock
The stock is an absolute favorite of our community with 30 Buy predictions and no Sell predictions.
With a target price of 121 € there is a slightly positive potential of 10.0% for Oracle Corp. compared to the current price of 110.0 €.
