Oracle Is (ORCL) Down Despite Revealing $638 Billion Worth Of Orders, Is The Market Wrong On This One?

Oracle Corporation (NYSE:ORCL) is one of the 10 Stocks That Can Still Skyrocket On The Neo Cloud Boom. 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.

Oracle Corporation (NYSE:ORCL) is one of the 10 Stocks That Can Still Skyrocket On The Neo Cloud Boom.

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%.

While we acknowledge the risk and potential of ORCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ORCL and that has 10,000% upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 Best High-Bandwidth Memory (HBM4) Value Chain Stocks to Buy According to Hedge Funds and  12 Best Mid-Cap AI Stocks to Buy According to Analysts.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1