From Nasdaq: 2024-06-07 02:09:08

Oracle (NYSE: ORCL) stock has outperformed the S&P 500 index, gaining 14% YTD. It is set to report Q4 2024 results on June 11, with expectations to beat revenue and earnings estimates. Revenues in the last quarter grew 7% y-o-y to $13.3 billion, driven by cloud services growth.

Despite a challenging financial backdrop, ORCL stock has risen by 85% since January 2021, outperforming the S&P 500 for the past 3 years. The company consistently beat the S&P 500 in 2021, 2022, and 2023. Trefis forecasts an Oracle valuation of $130 per share, 8% above the current market price.

Oracle’s revenues for the first three quarters of FY2024 grew by 7% y-o-y to $38.7 billion, driven by cloud services growth. The company is expected to report FY2024 revenues around $53.46 billion, with Q4 revenues estimated at $14.78 billion, slightly above consensus. Trefis projects an annual GAAP EPS of $4.01 for FY2024.

Oracle’s Q4 FY2024 adjusted EPS is forecasted at $1.69, 2% higher than consensus estimates. Net income for the first nine months of FY2024 improved by 41% y-o-y to $7.3 billion, supported by revenue growth and lower expenses. The stock price estimate is $130, reflecting an 8% upside from the current market price.

In terms of returns, Oracle has seen a 14% YTD increase, outpacing the S&P 500’s 11% rise. Additionally, the Trefis Reinforced Value Portfolio has shown a 4% YTD return. Investors can explore market-beating portfolios with Trefis for higher returns.



Read more at Nasdaq: Up 14% YTD, How Will Oracle Stock Trend After Q4 Results?