On March 14, 2019, the shares of Oracle had witnessed a steep fall of 4%, even though the company had met the forecast which analysts had predicted for it. According to analysts Oracle was set to get total revenue of $9.59 billion, but the company was able to attain $9.61 billion. The total revenue attained by Oracle in the first quarter of the present year was 1% short than what the company had attained last year. The previous fiscal year had ended on February 28, 2019.
Oracle is a multinational company located in the US. The company basically deals with cloud computing and database management. Oracle is also well known to provide some of the best software tools for the proper working of the organization viz. ERP, SCM, and CRM. Back in 2018, the company was third in overall revenue generation, after Microsoft and Google-owned Alphabet.
During the press meet, Safra Catz told the reporters that Oracle is expected to see a rise of $1.07 in every share and would be able to notice a fall in revenue of about 2% during the fourth fiscal quarter. On the contrary, analysts were hoping to see revenue drop by 1% and $1.05 earnings on every share.
Jennifer Lowe received a neutral rating at the Oracle and a total target of around 51. On the other hand, Brad Zelnick had got a target of about 60 on the Oracle. One of the analysts rated the stocks of Oracle as consensus earnings of 69 cents per share.
While addressing the press Mark Hurd said that due to great performance Oracle had shown a great deal of increase in revenue and price per share. Co-founder of Oracle, Mr. Ellison said that the company had switched Oracle away from the web services of Amazon to provide genuine cost savings.