Oracle revenue falls on weak software sales

Cloud SaaS and PaaS revenues were up 34 per cent at $451m on the quarter, while cloud IaaS was up 16 per cent with a $160m take. Our ranking system has beaten the S&P 500, yielding an average return of 26% per year for the last 28 years! The stock has an average rating of Buy and a consensus target price of $46.24.

Oracle Corporation (NYSE:ORCL) rose 0.82% or 0.31 points on Friday and made its way into the gainers of the day. After the session commenced at $37.81, the stock reached the higher end at $37.94 while it hit a low of $37.37. Oracle Corporation Common Stock, a NYQ listed company, has a current market cap of 162.67B and on average over the past 3 months has seen 16542200 shares trade hands on a daily basis. Deutsche Bank set a $44.00 target price on Oracle and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. The shares were sold at an average price of $40.35, for a total transaction of $15,131,250.00. They had gained less than 1 percent to $38.27 at the close in New York. Morgan Stanley restated an “overweight” rating and set a $50.00 price target on shares of Oracle in a research note on Monday, June 29th. According to the company, its total revenue should have been 7% higher if the currency rates remained constant. In the past six months, there is a change of -0.43% in the total insider ownership. Furthermore, Mountain Lake Investment Management Llc have 10.03% of their U.S. long equity exposure invested in the company for 285,000 shares.

Oracle’s executive chairman Larry Ellison said the company’s software and platform services are on target to book $1.5 billion to $2 billion this fiscal year. Furthermore, analysts at SunTrust believe that Oracle’s adoption of service oriented architecture in its Oracle Fusion Middleware (OFM) software suite also offers a very critical advantage to the company.

Like many of Silicon Valleys large, well-established companies, Oracle has been pushing to deliver its software and services on the Internet, or cloud as it witnesses declines in legacy products. The Companys hardware systems business consists of two operating segments: hardware systems products and hardware systems support. Effective February 6, 2014, Oracle Corp acquired the entire share capital of Responsys Inc. Oracle also reported greater expenses related to research and development and cloud-based software, among other items.