Oracle Corp. (NYSE:ORCL) posted better-than-expected results for the fourth quarter, after the closing bell on Wednesday.

Oracle reported fourth-quarter revenue of approximately $19.18 billion, beating analyst estimates of approximately $19.10 billion, according to Benzinga Pro. Adjusted earnings grew 24% year-over-year to $2.11 per share, beating analyst estimates of $1.96 per share.

"The large increases in Oracle's RPO and revenue are driven by the growing demand for cloud infrastructure for AI training and inferencing," the company said.

Also, the company announced it expects to raise approximately $40 billion through a combination of debt and equity financing.

Oracle guided for first-quarter revenue growth of 27% to 29%. Total cloud revenue is expected to grow between 57% and 63%. Adjusted earnings are expected to be between $1.72 and $1.76 per share in the first quarter, versus estimates of $1.68 per share.

Oracle shares fell 11.5% to trade at $179.03 on Thursday.

These analysts made changes to their price targets on Oracle following earnings announcement.

  • Piper Sandler analyst Billy Fitzsimmons maintained the stock with an Overweight rating and raised the price target from $210 to $225.
  • BMO Capital analyst Keith Bachman maintained the stock with an Outperform rating and raised the price target from $200 to $220.
  • Scotiabank analyst Patrick Colville maintained the stock with a Sector Outperform and lowered the price target from $290 to $241.
  • DA Davidson analyst Gil Luria maintained the stock with a Buy and raised the price target from $200 to $225.
  • Wedbush analyst Dan Ives maintained Oracle with an Outperform rating and lowered the price target from $275 to $240.
  • Barclays analyst Raimo Lenschow maintained the stock with an Overweight rating and raised the price target from $240 to $250.

Considering buying ORCL stock? Here’s what analysts think:

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