Investment Recommendation - The firm upgraded Oracle to a buy rating with a target price of $410 per share due to a "bookings bonanza" [1] - The upgrade is based on a bullish forecast for the next 3 to 5 years, surprising analysts [2] - The firm believes the stock is not particularly stretched, trading at a mid-30s earnings multiple on FY28 numbers, similar to Microsoft's valuation [6] Financial Performance & Projections - Oracle added $300 billion of new Remaining Performance Obligation (RPO) to the business [3] - The firm's revenue and EPS numbers for FY28 increased by 25% to 30% [4] - The firm anticipates Oracle's consolidated revenue growth will approach 50% in a few years [5] - Cloud Infrastructure (OCI) revenue is projected to reach $18 billion in 2026, $32 billion in 2027, $73 billion in 2028, and $144 billion in 2029 [7] Key Growth Drivers & Considerations - Oracle is expected to announce additional contracts and potentially close in on $500 billion of RPO [5] - The company's AI world conference in Las Vegas next month is expected to bring additional positive surprises on margins [5] - A key question is Oracle's ability to convert RPO into revenue, requiring power contracts, data center space, chips, and customer payments [9] - Oracle's customers include high-quality, well-funded companies like Meta, XAI, OpenAI, and Microsoft, reducing concerns about payment [9]

Group 1 - ServiceNow reported $3.22 billion in revenue for the quarter ended June 2025, a year-over-year increase of 22.4% [1] - The EPS for the same period was $4.09, compared to $3.13 a year ago, indicating a significant growth [1] - The reported revenue exceeded the Zacks Consensus Estimate of $3.12 billion, resulting in a surprise of +3.02% [1] Group 2 - The company delivered an EPS surprise of +15.54%, with the consensus EPS estimate being $3.54 [1] - Current Remaining Performance Obligations (cRPO) were $10.92 billion, surpassing the $10.48 billion average estimate [4] - Remaining Performance Obligations (RPO) totaled $23.90 billion, compared to the $22.11 billion average estimate [4] Group 3 - Revenues from Professional services and other reached $102 million, exceeding the $88.78 million estimated by analysts [4] - Subscription revenues were $3.11 billion, compared to the $3.03 billion estimated by analysts, reflecting a +22.5% change year-over-year [4] - Gross Profit (Non-GAAP) from Subscription was $2.59 billion, slightly above the $2.53 billion estimated by analysts [4]