Wall Street analyst updates Oracle's stock price

Core Viewpoint - Oracle projects strong future revenue growth driven by new cloud contracts, despite recent quarterly results falling short of expectations [1][2] Group 1: Financial Performance - Oracle reported adjusted earnings of $1.47 per share, slightly below the forecast of $1.48, with revenue at $14.93 billion compared to estimates of $15.04 billion [1] - Revenue grew 12% year-over-year, with net income remaining steady at $2.93 billion [1] Group 2: Cloud Infrastructure Outlook - The company expects revenue in its cloud infrastructure division to surge 77% this fiscal year to $18 billion, up from $10 billion a year earlier [2] - Long-term projections include $32 billion by fiscal 2027, and targets of $73 billion, $114 billion, and $144 billion over the following three years [2] Group 3: Stock Market Reaction - Following the optimistic projections, Oracle's shares rose over 28% in after-hours trading, reaching $310, up from a regular session close of $241 [3] - Jefferies analyst Brent Thill raised the price target on Oracle to $360 from $270, citing accelerating demand in AI and cloud services as key drivers [6] - Wall Street consensus remains positive, with 34 analysts assigning a 'Moderate Buy' rating to Oracle [7] Group 4: Price Target Predictions - The average 12-month price target for Oracle stands at $263.93, indicating a potential 9.3% upside from current levels [9] - Price targets vary, with the most bullish at $400 and the most cautious at $195 [9]