These Analysts Boost Their Forecasts On Oracle After Q1 Results

Core Insights - Oracle Corporation reported weaker-than-expected first-quarter results, with earnings of $1.47 per share, missing the analyst consensus estimate of $1.48 [1] - Quarterly revenue was $14.92 billion, falling short of the Street estimate of $15.03 billion, but showing an increase from $13.3 billion in the same period last year [1] - CEO Catz indicated significant revenue growth is expected in upcoming quarters [1] Revenue Growth and Market Performance - MultiCloud database revenue from Amazon, Google, and Microsoft grew at an extraordinary rate of 1,529% in the first quarter, with expectations for substantial growth in the coming years as Oracle delivers an additional 37 datacenters to its Hyperscaler partners, totaling 71 [2] - Following the earnings announcement, Oracle shares jumped 29.6% to $312.96 in pre-market trading [2] Analyst Ratings and Price Targets - Piper Sandler analyst Brent Bracelin maintained an Overweight rating and raised the price target from $270 to $330 [5] - Wolfe Research analyst Alex Zukin maintained an Outperform rating and increased the price target from $300 to $400 [5] - DA Davidson analyst Gil Luria maintained a Neutral rating and raised the price target from $220 to $300 [5] - Jefferies analyst Brent Thill maintained a Buy rating and increased the price target from $270 to $360 [5] - Evercore ISI Group analyst Kirk Materne maintained an Outperform rating and raised the price target from $270 to $340 [5]