Oracle (NYSE: ORCL) has seen its stock double over the past three years, thanks to strong growth in its cloud business. The company has transformed many on-premise applications to cloud-based services, which has boosted revenue and EPS. Analysts expect further growth with a CAGR of 12% in revenue and 20% in EPS from fiscal 2024 to fiscal 2027.

Oracle’s recent growth has been driven by its cloud infrastructure platform, ERP services, and cloud-based database services. Its total cloud services grew by 22% in fiscal 2022, 29% in fiscal 2023, and 26% in fiscal 2024. The company’s cloud infrastructure platform is becoming its core growth engine, serving major customers like Nvidia and Uber Technologies.

Looking forward, Oracle is expected to continue expanding its cloud and AI-focused services, with analysts predicting a CAGR of 20% in EPS through fiscal 2029. Despite trading at 32 times forward earnings, the stock’s growth potential may justify the valuation. If the company meets expectations, the stock could rise 65% to $280 by calendar 2028, providing a reliable investment opportunity in the cloud and AI markets.

For investors looking for potential high-growth opportunities, Oracle’s stock may offer a second chance at a lucrative investment. The company’s strong position in the database market and expansion into cloud services make it a compelling choice for those seeking growth in the tech sector. Analysts have issued “Double Down” alerts for three companies, including Oracle, signaling a potential uptick in their stock prices.

Read more at Nasdaq: Where Will Oracle Stock Be in 3 Years?