Oracle Secures a Higher Price Target from Jefferies Following Strong Quarter

Investment firm Jefferies has confidently sustained its 'buy' rating on technology giant Oracle and has subsequently increased the price target from $145 to a notable $150. This change arrives on the heels of Oracle announcing robust quarterly financial figures that included a significant 29% growth in backlog.

Reaching Targets by Fiscal 2026

Oracle's management team stands by their fiscal 2026 goals, which suggest a compound annual growth rate (CAGR) of 10.5% from 2024 to 2026. This ambitious growth rate would enable Oracle to achieve a revenue milestone of $65 billion, despite a more moderate target of around 7% for the year 2024.

Oracle's Standing in a Multi-Cloud World

Jefferies has observed the recent uptick in new business contracts secured by Oracle and predicts that the company will harness the benefits of an increasingly multi-cloud industry. The firm also underlines Oracle's current market valuation as being particularly attractive to investors.

This performance evaluation and forecast are provided with the intent of assisting investors in making informed decisions. It should not be taken as definitive investment advice. Potential investors without pertinent investment knowledge should seek advice from professional financial advisors. This communication is neither a call to sell nor an offer to purchase any securities.

Oracle, Jefferies, Investment