Oracle Corporation (NYSE:ORCL) reported better-than-expected results for its fourth quarter on Monday.
Oracle said fourth-quarter revenue increased 17% year-over-year to $13.8 billion which beat average analyst estimates of $13.73 billion. The company reported quarterly adjusted earnings of $1.67 per share, which beat consensus estimates of $1.58 per share.
Oracle's board declared a quarterly cash dividend of 40 cents per share.
Oracle shares rose 5.6% to $122.89 in today’s pre-market trading session.
These analysts made changes to their price targets on Oracle following earnings announcement.
- BMO Capital raised the price target on Oracle from $96 to $132. BMO Capital analyst Keith Bachman maintained a Market Perform rating.
- UBS increased the price target on Oracle from $110 to $120. UBS analyst Karl Keirstead maintained a Neutral rating.
- Guggenheim boosted Oracle price target from $120 to $150. Guggenheim analyst John Difucci maintained a Buy rating.
- Goldman Sachs analyst Kash Rangan, meanwhile, upgraded Oracle from Sell to Neutral and announced a $120 price target.
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