Oracle just attacked all of its rivals with another straight thrust forward. As we noted for the first time as early as March, bulls were not going to have a rest until properly testing the range between $145 and $150, with our next target for the future being raised to $170 three months later. Now this steadfast pillar of the cloud-based upside momentum is hitting $160 to come atop the hill soon. A regular member of the top-3 winners’ global club in the software product segment gained 11.44% on September 10 after confirming it still enjoys success in partnership with other grandees. In particular, it ultimately signed an inked agreement with Amazon Web Services (AWS). This move would allow crowds of customers to access Oracle's Autonomous Database and Exadata Database services via AWS, with the general availability of Oracle's Database@Google Cloud.
The new option will contribute to other great connection opportunities through Microsoft Azure and Google Cloud. And this would surely bring more revenue sources, even though Oracle's cloud services sales already jumped by 21% to $5.6 billion in the recent financial quarter. The total money collections from all blockbuster products amounted to $13.31 billion, for the quarter ended August 31, only slightly higher compared to $13.23 billion in consensus estimates. However, the firm's remaining, and therefore nearly guaranteed, performance obligations of booked revenue, rose by 53% to reach as much as $99 billion for the reported period. The company took its profit of $1.39 per share, above estimates of $1.32.
Oracle CEOs also shared their inner expectations of the further pace of revenue growth within a range from 8% to 10%, better than the midpoint of analyst pool's projections at 8.72%. Oracle's database business clearly benefits from collaborations with the giants who are already cloud monsters themselves, performing its part of a cheaper and safer provider in a dynamic role-playing game with Amazon and Microsoft platforms, even though the latter is closely integrated with ChatGPT creators. Oracle's cloud features and supercomputers' high capacities are also demanded by AI gods from NVIDIA. Besides, many global organizations and services for the global investment community, like MSCI and New Zealand's Fonterra dairy exporter, prefer to use Oracle World's Database@Azure to accelerate their cloud migrations.
Based on all those relationships, we are ready to raise our price goals for Oracle shares after the current speculative target at $170 will be hit.
