Oracle’s blow-out earnings caused over 20 Wall Street analysts to raise price targets
Cloud computing really is starting to breath new life into Oracle. The company had blow-out Q4 2017 earnings Wednesday thanks to 58% year-over-year growth for the quarter in cloud.
A sunny outlook caused the stock to hit a 52-week high of $51.85 on Thursday before settling down to about $50 in the afternoon. And that inspired 21 of 38 analysts surveyed by FactSet to predict that the stock will rise even higher, according to MarketWatch’s Tomi Kilgore.
Oracle Riding The Cloud Wave As Future Revenues And Margins Look Strong
Oracle released its Q4 and fiscal 2017 earnings on June 21, and managed to beat its own earnings guidance and analyst estimates by a comfortable margin of over 10 cents per share. The revenues also exceeded the analyst estimates by over $300 million, which led its stock to jump by around 10% after the earnings release.
The reason behind Oracle’s successful quarter and fiscal year was its deals with large enterprises such as AT&T, Netflix, BNP Paribas, Kraft Heinz, and more. The company was able to return to growth in terms of GAAP revenues after 2 years of soft performance. The company’s annual recurring revenue hit an all time high of over $2 billion which bodes well for its future performance.
Oracle’s stock surge sends analysts scrambling to boost targets
Shares of Oracle Corp. soared to a record close Thursday, in the wake of blowout fiscal fourth-quarter results, sending Wall Street analysts scrambling to raise their price target to keep pace.
The software giant reported adjusted earnings per share and revenue that beat expectations by the widest margins in at least five years, according to available FactSet data, sending the stock up $3.97, or 8.6%, to $50.30. That puts the stock ORCL, -0.30% on track for the biggest price and percentage gain since Dec. 18, 2014.
Oracle Soars To New High As Analysts Hail ‘Perfect Storm’
Oracle (ORCL) stock was flying at record highs Thursday as analysts cheered the software company’s strongest quarterly results in years. Oracle late Wednesday reported fiscal Q4 results that beat on the top and bottom lines, with strong growth from its emerging cloud-computing operations.
Analysts said the beat came from a strong performance across the board, including its transition to a cloud-computing business model.
TODAY'S TRADING LESSON
Keeping a Trading Journal That Results in Better Trading
A trading journal is like a vegetable. We know we need it but we don’t partake enough.
Committed traders keep track of progress and there is no better way to do this than a trading journal. On the surface a journal helps evaluate performance but applied properly it should go much deeper than the results.
A trading journal is a checklist for measuring execution. It’s a friend to be accountable to. Long-term results are driven by each action-from strategy to stop-loss. Documenting your ability to follow your plan is crucial to success. It’s crucial in the pursuit of consistency.
Trust me that I am not using the word crucial, lightly.
On the Tape Today | 6-23-17
HCA-HCA Healthcare Inc surged through resistance - filled the gap - traded increased volume AND pulled back and closed at support. All in one day! Game planning a new swing trade long using an $86.50 buy stop. Shooting for a profit target of $90.75. Stop loss on a close below $85.
The SPY ETF produced two “well-offered” days and yesterday’s price action settled into an inside day, at support.
A whole lot of price action inside of a trading range. Throw in a measly 44 million shares traded and the SPY indecision is complete. The inside day and light volume lead me to believe today will be a solid trend day before the weekend.
It’s incredibly difficult with long-term bullish order flow to expect a breakdown through support. I am game planning a test of $242.50 in the first hour and then buyers to step and and create a bullish trend day.
If support breaks I plan to trade for cash flow, without any aggressive position size. In recent weeks I would have looked to short the oil and gas stocks but many of them have reached Saturation Points — meaning the expectation for follow through has diminished, despite the obvious bearish order flow.
== > Remember, “Is it a good short, versus is it a good short now? Is not the same trade…”
Stock Market Today:
Stocks to Trade | Friday Edition 6-23-17
Bullish Momentum: GILD, JWN, LB, HCA, PANW, TWLO
Bearish Momentum: cost, wba
Bullish Order Flow: ALXN, LLY, TSLA, CAH, AMGN, CTRP, AGN, UNH, JNJ, LUV, ATVI, MCD, CELG, AET, VRTX, MDT, BA,
TSO, HON, WYNN, C, LVS, MU, ADBE, NVDA, BABA
Bearish Order Flow: wba, rost, nfx, tjx, hal, fl, apc, dis, tsco, dvn, dltr, trip, slb, apa, clr, oke, slca, hes, trgp
Double Normal Volume: YHOO, GILD, RICE, EQT, WB, CELG, ACN, COST, KMX, ROST, NVS, BHI, MNK
Inside Days: kr, nke, kmx, rrc, dis, clr, dow, gme, cvx, tmus, nflx, oxy, adbe, cat, dltr, aa, mchp, fnsr, ibm, axp, wdc, fast, bidu, dd
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