Positive. Oracle's stock surged 10% after earnings beat, strong growth projections and key partnerships.

From Nasdaq: 2024-09-10 16:05:00

Oracle’s stock surged over 10% after beating Q1 earnings expectations with revenue of $13.3 billion, up 7% YoY. Cloud infrastructure growth, including AI applications with Nvidia, drove results. Oracle expects 8-10% sales growth in Q2 and projects FY25 sales of $57.82 billion, with earnings up 11% to $6.98 per share.

Zacks experts predict Oracle’s stock to double in 2024. Most picks have seen gains of +100% or more. The stock trades at a 22.6X forward earnings multiple, below industry averages, making it an attractive buy. With strong growth projections and key partnerships like Amazon and Nvidia, now could be a good time to invest.



Read more at Nasdaq: Time to Buy the Rally in Oracle’s (ORCL) Stock After Earnings?