ORCL began trading the month of October at $36.12. ORCL
closed at $37.82 on October 13th, representing a 4.7% increase thus
far this month. This after a rebound in ORCL is expected after a mixed earnings
report and a volatile few months in the market. The competition for ORCL became
a little bit more complex this month as Amazon introduced a database system
that will compete with companies like ORCL and SAP; this occurring as ORCL is
transitioning its primary focus from database systems to cloud related
technologies. On Wednesday morning as a result of increased competition ORCL
was downgraded to "market underperform" from "market perform”
with a $31 PT by analysts at JMP Securities. Despite the recent downgrade from
JMP, other analysts still remain positive, as Jeffries has ORCL at a PT of $50.
ORCL’s growth prospects remain strong in the cloud component, as they are
growing faster into that market as compared to many of their competitors.
Jeff Sherman
No comments:
Post a Comment