The cloud computing giant Oracle Corp. (ORCL Stock) released information of positive earnings on May 12, beating estimates. As per the records, the adjusted earnings gained 8% year-over-year (YoY) to $1.67, beating the analysts’ prediction of $1.58. Following the release of information about the earnings, ORCL’s share price jumped 5.99%.
Oracle Corporation (ORCL Stock) – Financial Analysis
At press time, Oracle Corp (NYSE: ORCL) is trading at $116.43 with a hike of 5.99%. Previous close and open were at $109.85 and $114.34, respectively. The 52-week change comes with a gain of 64.64%. Analysts placed a 2.50 rating for moderate buy and put the price target at $102.37 with a 12.1% downside.
Recently, ORCL’s share price has seen notable gains. For instance, it gained 9.95% in the last seven days and 19.28% in the previous 30 days. The quarterly gain was reported to be 35.49%, and in the past six months, it gained 44.88%. The current price swelled by 41.18% YTD, while the yearly change demonstrates a jump of 71.27%.
Revenue for the most recent quarter (mrq) is reported to be $13.8 Billion, while the estimate was $13.74 Billion. However, the trailing twelve-month (ttm) revenue is $47.96 Billion. Moreover, several revenue streams also swelled. Cloud services and license support gained 23.1% compared to Q1 2022 at $9.37 Billion.
Similarly, the Hardware section revenue dropped slightly by 0.7% to $850 Million, while the company’s services sector gained 75.9% YoY to $1.47 Billion.
The latest earnings were reported on May 12, with a reported revenue of $13.837 Billion, while the estimate was $13.738 Billion, resulting in a surprise of $99.142 Million, which is equivalent to a jump of 0.72%. The revenue per share is reported to be $17.86 ttm, while the quarterly revenue growth (YoY) increased by 17.90%.
Total cash in hand (mrq) is $8.77 Billion, while debt equals $91.81 Billion. Basic EPS is reported to be $3.12, while the Price to Earnings ratio is 36.09. EBITDA stands strong at $18.6 Billion.
Oracle Corp. (ORCL Stock) – Candle Exploration
The upward trajectory of EMA, a steep ascending trend line, indicates a positive trend, taking the current price to new heights. However, the RSI of 69.21 brings the price close to the overbought range. Consequently, a should be expected. However, following the exceedingly positive earnings, the price might stay strong for a while.
If the price decreases, it might bounce off immediate support and consolidate in a particular region. Alternatively, it could come down to S1 and consolidate.
Furthermore, the results of the Fed meeting will be revealed on June 14, and this could significantly impact the stock market as a whole.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/13/oracle-corp-orcl-stock-soaring-on-strong-earnings-performance/