Oracle (NYSE: ORCL) reported its fiscal first-quarter earnings on Monday, falling short on revenue.
The software firm reported its earnings per share at $1.03, above the expected $0.97 per share. However, revenue missed expectations, coming in at $9.73 billion compared to the $9.77 billion forecasted.
Oracle shares are down 3.36% at $85.90 premarket, following the report.
Despite the revenue miss, several analysts have upgraded price forecasts for the stock, although Barclays analyst Raimo Lenschow expects the company's shares “to trade range bound from here,” defining the results as “more of a mixed bag.”
Lenschow kept an Equal Weight rating on Oracle with an $85 price target.
However, several other analysts have upgraded Oracle price targets:
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Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.