5 Innovative Dividend Stocks to Buy Right Now

3. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 111

On April 28, Wedbush Securities analyst Daniel Ives reiterated an Outperform rating on Oracle Corporation (NYSE:ORCL) with a $225 price target. The analyst said that the selloff in ORCL shares was a “way overreaction.” The move followed a Wall Street Journal report that OpenAI recently missed its own targets for new users and revenue. Wedbush said OpenAI continues to see “very high demand” across both consumer and enterprise markets. The firm said it “strongly” disagrees with the idea that growth is weakening. Oracle’s backlog stands at $553B. A large portion of that comes from a $300B cloud contract with OpenAI over the next five years. That project is expected to contribute about $30B in revenue, the analyst said in a research note. Wedbush also expressed confidence in Oracle’s ability to complete its $50B capital raise. The firm said concerns around OpenAI are overblown and added that the company has enough capital to meet its compute capacity needs for at least the next three years. Wedbush maintains an Outperform rating on Oracle with a $225 price target.

Oracle introduced the world’s first autonomous database. This marked an important step in how data is managed. It also offers a broad range of AI-driven cloud applications across the industry. In addition, Oracle supports the largest electronic health record implementation globally, serving more than 9.5 million beneficiaries across the United States, Europe, and the Asia Pacific.

Oracle Corporation (NYSE:ORCL) provides integrated application suites along with secure, autonomous infrastructure through Oracle Cloud. The business operates across three segments: cloud and license, hardware, and service.