Oracle ( NYSE:ORCL )
Monness, Crespi, and Hardt, an investment company, said on Tuesday that Oracle ( NYSE:ORCL ) seems to be “ well positioned ” moving into 2023 owing to the development of its cloud computing division and its “moderate valuation.” As a result, Oracle stock surged.
Oracle was a “steady hand in a difficult market,” according to analyst Brian White, who has a buy recommendation on the business and stated that Oracle was a “steady hand in a treacherous market” in 2022 as Oracle stock dropped around 7%, in comparison to the more significant loss for many of its tech rivals. Larry Ellison created the company.
White also said that Oracle has proved the power and capabilities of its cloud, referring to its inclusion in the recent Department of Defense cloud contract as a “prestigious triumph” and proof that it has made inroads into the large market. White claimed that this is evidence that Oracle has made inroads into the market.
White wrote in a note to clients that “in our view, no company is immune to an economic downturn; however, we believe the tailwind of the Oracle Cloud and the stock’s modest valuation provide some downside protection.” White’s comments were made in response to the fact that “in our view, no company is immune to an economic downturn.”
White also indicated that Oracle (ORCL) is expected to have an increase in growth after the company’s announcement last...
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