Oracle (ORCL) Price Target Lowered on Revenue Conversion Concerns

Oracle Corporation (NYSE:ORCL) ranks among the best rebound stocks to buy right now. On March 13, Argus reduced its price target for Oracle Corporation (NYSE:ORCL) to $225 from $384 while retaining a Buy rating on the company’s shares. Analyst Joseph Bonner expressed concerns about whether the company’s backlog improvements will translate into actual revenue.

Pixabay/Public Domain

Oracle Corporation (NYSE:ORCL) exceeded earnings estimates and improved its forecast in the fiscal third quarter of 2026, reporting revenue of $17.2 billion, above the consensus estimate of $16.9 billion. Notably, Oracle’s Infrastructure as a Service revenue rose 84% year-over-year to $4.9 billion, exceeding the street’s expectation of $4.7 billion.

As Oracle Corporation (NYSE:ORCL) chases enterprise cloud transformation prospects, cloud revenue has emerged as its key growth driver. Management voiced confidence in the long-term demand for its cloud infrastructure services, database products, and applications.

Oracle Corporation (NYSE:ORCL) offers an extensive suite of database and cloud computing software and hardware. The Company offers databases and relational servers, application development and decision-support tools, and enterprise business applications.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.