10 Stocks That Can Still Skyrocket On The Neo Cloud Boom 

7. Oracle Corporation (NYSE:ORCL)

Potential Upside: 33.1%

On June 11, Oracle Corporation (NYSE:ORCL) secured a $395.8 million contract from the U.S. Office of Personnel Management. Under the agreement, the company will deliver a new government-wide human resources platform based on its Oracle Fusion Cloud Human Capital Management software. The platform will support OPM’s Federal HR 2.0 initiative and is expected to replace more than 100 separate HR systems currently used across federal agencies. It will serve as a single, centralized system of record for managing workforce data and HR operations across the federal government.

The news came as Oracle Corporation (NYSE:ORCL) reported its fourth-quarter earnings on June 11. The company reported 21% revenue growth, with revenue reaching $19.2 billion. Non-GAAP operating income reached $8.6 billion, growing 22% in U.S. dollars. Oracle’s Remaining Performance Obligations (RPOs) increased to $638 billion from $553 billion in the previous quarter. It is this high visibility into future earnings that makes the stock one of the top stocks that could skyrocket on the neocloud boom.

Going forward, Oracle Corporation (NYSE:ORCL) expects the first-quarter total revenue to grow between 27% and 29% in U.S. dollars. Cloud revenue is projected to grow in a range between 58% and 64%.

Oracle Corporation (NYSE:ORCL) provides information technology-related products and services to enterprises through its main business segments: Cloud and License, Hardware, and Services. The company is based in Austin, Texas, and was founded in June 1977 by Lawrence Joseph Ellison, Robert Nimrod Miner, and Edward A. Oates.