Why Oracle Stock Is Plunging Today
(NYSE: ORCL) stock is sinking in Tuesday's trading following the company's recent quarterly report. The tech giant's share price was down 6.8% as of 10:45 a.m. ET.
After the market closed yesterday, Oracle published results for the second quarter of its current fiscal year, which ended Nov. 30. The company posted sales and earnings for the period that fell short of Wall Street's targets, and its forward guidance also missed the mark.
Oracle reported non-GAAP (generally accepted accounting principles) adjusted earnings per share of $1.47 on sales of $14.1 billion. Meanwhile, the average analyst estimate had called for the business to deliver adjusted earnings of $1.48 per share on revenue of $14.1 billion. The company closed out the quarter with remaining performance obligations of $97 billion, representing a 49% annual increase.
Source Fool.com
Oracle Corp. Stock
The stock is one of the favorites of our community with 96 Buy predictions and 1 Sell predictions.
With a target price of 260 € there is potential for a 130.82% increase which would mean more than doubling the current price of 112.64 € for Oracle Corp..
