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ORCL

Oracle

$46.09

3.04 (7.06%)

, MSFT

Microsoft

$64.75

0.34 (0.53%)

11:12
03/16/17
03/16
11:12
03/16/17
11:12

Oracle advances as cloud progress turns analysts more bullish

The shares of Oracle (ORCL) are climbing after the company reported stronger than expected profits and said that its cloud business had grown 85% year-over-year in its third fiscal quarter. JPMorgan and JMP Securities responded by upgrading their ratings on the stock, while research firm Canaccord increased its price target following the report. RESULTS: Oracle reported third quarter earnings per share of 69c, excluding certain items, versus the consensus outlook of 62c. The company's revenue came in at $9.3B, versus the consensus estimate of $9.26B. Oracle provided Q4 EPS guidance, excluding some items, of 78c-82c, versus the consensus outlook of 78c. Moreover, Oracle said that the revenue generated by its cloud business had risen 85% on a non-GAAP basis to $1.1B. "The hyper-growth we continue to experience in the cloud has rapidly driven both our (software-as-a-service) and (platform-as-a-service) businesses to scale," said Oracle CEO Safra Catz, adding that she expects the company's EPS to rise throughout the year. UPGRADES: JPMorgan analyst Mark Murphy upgraded Oracle to Overweight from Neutral. The fact that the growth of the company's cloud business is "more than offsetting" the decline of its licensing revenue is "a key milestone," Murphy believes. Additionally, 70% of the company's revenue is now recurring, up from the 50% level of "a few years ago," while checks indicate that its partners are becoming more upbeat on its outlook, the analyst stated. He raised his price target on the name to $51 from $42. JMP Securities analyst Patrick Walravens upgraded Oracle to Market Perform from Underperform, stating that the company's "high growth (cloud) business" is almost as large as its "shrinking new license business." Moreover, Oracle is now trading at a lower valuation than many other tech companies, such as Microsoft (MSFT), Adobe (ADBE), and SAP (SAP), the analyst stated. However, Walravens said that he is still concerned about Oracle's "auditing practices, customer satisfaction rates, and competition from cloud platforms." TARGET INCREASE: Given the growth of Oracle's cloud business, investors believe in it "for now," wrote Canaccord analyst Richard Davis, who raised his price target on the stock to $49 from $45. The shares will rise about 10% more "before running out of steam" due to "another askew quarter," he forecast. However, Davis says that the company's Q4 results should be "pretty good." In fiscal 2018, the company's cloud revenue should surpass its new license revenue, leading to profit growth that will rise throughout the year and should increase overall by about 10%, Davis stated. He kept a Buy rating on the shares. PRICE ACTION: In morning trading, Oracle jumped 7.5% to $46.28 per share.

ORCL

Oracle

$46.09

3.04 (7.06%)

MSFT

Microsoft

$64.75

0.34 (0.53%)

ADBE

Adobe

$122.11

0.67 (0.55%)

SAP

SAP

$97.08

1.04 (1.08%)

  • 16

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    May

ORCL Oracle
$46.09

3.04 (7.06%)

03/16/17
03/16/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Oracle (ORCL) was upgraded to Market Perform from Underperform at JMP Securities and to Overweight from Neutral at JPMorgan. 2. GoPro (GPRO) upgraded to Neutral from Sell at Citi with analyst Stanley Kovler saying the recent stabilization in revenue as well as the company's "significant" restructuring initiatives accelerate its path to profitability to 2017 from 2019. These developments should, at the very least, stave off the bear scenario for a few quarters, Kovler tells investors in a research note. He raised his price target for GoPro shares to $9 from $8. 2. TJX (TJX) upgraded to Conviction Buy from Buy at Goldman with analyst Matthew Fassler saying the company offers long-term secular growth along with near-term catalysts. The analyst expects TJX to grow market share at the expense of department stores. 4. Inovio (INO) upgraded to Buy from Hold at Maxim with analyst Jason McCarthy saying it has multiple earlier stage programs moving forward with more significant data points coming in 2017 while it moves closer to its pivotal study in cervical dysplasia. He notes that his model assumes that VGX-3100 is commercialized in 2021 for cervical dysplasia. 5. Quest Diagnostics (DGX) upgraded to Neutral from Underperform at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/16/17
BERN
03/16/17
NO CHANGE
BERN
Oracle 'continuing to turn the corner,' says Bernstein
After Oracle reported stronger than expected Q3 results, Bernstein analyst Mark Moerdler says that the company "is continuing to turn the corner." The analyst notes that the average rate of return of the company's organic cloud bookings growth came in at 50%-60%. He is impressed by this metric and believes that the company is "continuing to turn the corner," driven by its cloud business. Moerdler expects the company's multiple to expand going forward and he keeps an Outperform rating on the shares.
03/16/17
ADAM
03/16/17
NO CHANGE
Target $49
ADAM
Buy
Oracle price target raised to $49 from $45 at Canaccord
Canaccord analyst Richard Davis raised his price target on Oracle to $49 from $45 as he believes its momentum could carry the shares another 10%. Davis believes Oracle's outlook is pretty good and that 2018 should be better as earnings growth should be in the double-digits. He keeps a Buy rating on the shares.
03/16/17
JMPS
03/16/17
UPGRADE
JMPS
Market Perform
Oracle upgraded to Market Perform from Underperform at JMP Securities
JMP Securities analyst Patrick Walravens upgraded Oracle to Market Perform following the company's Q3 results. The analyst raised his earnings estimates and believes the stock at current levels offers fair value. JPMorgan this morning upgraded Oracle to Overweight.
MSFT Microsoft
$64.75

0.34 (0.53%)

03/14/17
JEFF
03/14/17
NO CHANGE
Target $62
JEFF
Underperform
Jefferies says 'probably not' on Citrix takeover
In a research note titled "Maybe, But Probably Not," Jefferies analyst John DiFucci argues that a strategic acquirer would "be hard-pressed" to seriously consider acquiring Citrix Systems (CTXS) at a premium to current share levels. Further, he believes a financial buyer would likely find a deal "even more difficult." A potential strategic buyer for the whole company aside from Microsoft (MSFT) is difficult to find, DiFucci writes. He keeps an Underperform rating on Citrix with a $62 price target. The analyst's thoughts following reports that Citrix has hired bankers to explore a sale.
03/14/17
DADA
03/14/17
NO CHANGE
Target $51
DADA
Neutral
Tableau price target lowered to $51 from $55 at DA Davidson
DA Davidson analyst Jack Andrews said several data points in recent weeks lead him to believe that the total addressable market opportunity for Tableau (DATA) is being contested and/or eroded by more "heavyweight" enterprise software companies, including Google (GOOG), Microsoft (MSFT) and Workday (WDAY). Citing the continued rise of competition, Andrews reiterates a Neutral rating on Tableau and lowered his price target to $51 from $55.
03/14/17
ARGS
03/14/17
NO CHANGE
ARGS
Cavium deal positive, says Argus
After Cavium (CAVM) agreed to supply its ThunderX ARM-based server processing technology to Microsoft (MSFT) for use in its internal data centers, Argus analyst .Jim Kelleher says the deal "positions ThunderX in (the) fastest-growing parts of technology, including cloud data center, hyperscale and machine learning." He raised his price target on the stock to $82 from $75 and keeps a Buy rating.
03/15/17
OPCO
03/15/17
NO CHANGE
Target $142
OPCO
Outperform
Arista Networks price target raised to $142 from $120 at Oppenheimer
Oppenheimer analyst Ittai Kidron raised his price target for Arista Networks (ANET) to $142 from $120 given his increasing conviction in the company's opportunities. The analyst sees multiple growth drivers still in early innings, including growing opportunities with cloud providers beyond Microsoft (MSFT), emerging DCI routing, HP Enterprise (HPE) go-to-market partnership, and potential incremental U.S. Federal business. He reiterates an Outperform rating on Arista's shares.
ADBE Adobe
$122.11

0.67 (0.55%)

01/11/17
01/11/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alibaba (BABA) initiated with an Outperform at Bernstein. 2. Microsoft (MSFT), Oracle (ORCL), and SAP (SAP) were initiated with an Outperform at Wells Fargo while the firm initiated Adobe (ADBE) with a Market Perform. 3. GrubHub (GRUB) initiated with an Outperform at Credit Suisse. 4. Veritiv (VRTV) initiated with a Buy at BofA/Merrill. 5. Ormat Technologies (ORA) initiated with a Buy at Craig-Hallum. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/12/17
PIVT
01/12/17
DOWNGRADE
Target $104
PIVT
Hold
Adobe downgraded to Hold from Buy at Pivotal Research
Pivotal Research analyst Brian Wieser downgraded Adobe and other names in the Internet/Advertising space citing a riskier political environment post the U.S. election. Valuations do not appropriately reflect that the environment for stocks and companies is riskier now than was the case several months ago, Wieser tells investors in a research note. He believes "significant factions" within the government support "mercantilism and populism," creating uncertainty as to what policies will take effect. The analyst lowered his price target for Adobe shares to $104 from $136.
02/28/17
BARD
02/28/17
INITIATION
Target $130
BARD
Outperform
Adobe assumed with an Outperform at Baird
Baird analyst Rob Oliver assumed coverage on Adobe with a Outperform and a $130 price target.
03/10/17
COWN
03/10/17
NO CHANGE
Target $140
COWN
Outperform
Adobe price target raised to $140 ahead of Q1 report at Cowen
Cowen analyst J.Derrick Wood raised his price target on Adobe to $140 from $120 ahead of its Q1 report, which is expected on Thursday, March 16. The analyst remains bullish around the health of its growth in both Digital Media and Digital Marketing. Wood reiterated his Outperform rating on Adobe shares.
SAP SAP
$97.08

1.04 (1.08%)

01/18/17
ROTH
01/18/17
NO CHANGE
Target $32
ROTH
Buy
Roth Capital views Callidus Software agreement with SAP as positive
Roth Capital analyst Richard Baldry believes Callidus Software (CALD) "strategic OEM agreement" with SAP (SAP) should "meaningfully boost" the former's competitive win-rate as prospects absorb the implications of its closer relationship with the world's third largest software vendor. The analyst reiterated a Buy rating on Callidus Software's stock and raised his price target on the shares to $32 from $31 given increased confidence in his 2017 forecasts and his view that it is "well-undervalued" versus its leading SaaS peers.
01/18/17
CHLM
01/18/17
NO CHANGE
Target $24
CHLM
Buy
SAP agreement likely 'meaningful' for Callidus Software, says Craig-Hallum
Craig-Hallum analyst Chad Bennett views Callidus Software's (CALD) announced OEM partnership with SAP (SAP) as a real positive for the company and the stock. While the analyst notes that over the years he has seen a number of software partnerships that did not prove to be "needle movers," he thinks this one will be different and could prove to be a "real tailwind" to growth in 2017 and beyond. He reiterates a Buy rating and $24 price target on Callidus Software's shares.
02/10/17
OPCO
02/10/17
NO CHANGE
Target $100
OPCO
Outperform
SAP price target raised to $100 from $95 at Oppenheimer
Oppenheimer analyst Brian Schwartz raised his price target for SAP to $100 from $95 saying his thesis on the company looks intact, which should support higher stock prices as it further plays out in 2017, with good consistency in upcoming quarterly reported results as the catalyst. The analyst reiterates an Outperform rating on the shares.
03/02/17
SOCG
03/02/17
UPGRADE
SOCG
Buy
SAP upgraded to Buy from Hold at Societe Generale

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Marriott

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NSANY

Nissan

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PVG

Pretium Resources

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IWM

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