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Oracle report due Thursday

Oracle Corp will report its first-quarter figures before the market opens on Thursday 18 September. The consensus is for a revenue of $8.87 billion and earnings per share of $0.65.

Oracle logo
Source: Bloomberg

The company is trading at the $40.62 level. The share price is down over 5% since the company reported its fourth-quarter figures in which revenue and EPS were $11.32 billion and $0.92 respectively, both missing estimates. Oracle’s share price hasn’t fully recovered from the fourth-quarter announcement; the stock spent most of the past three months trading close to $41.

The company is facing competition from smaller software firms like Salesforce.com Inc and Workday Inc. Added to that, the license fees for using software are no longer paid up front, they are paid on an ongoing basis.

Equity analysts are very bullish on Oracle. Out of the 44 recommendations, 26 are buys, 15 are holds and only three are sell ratings. The 200-day moving average is providing support at $39.46 and if results exceed estimates the stock could target $43.27.

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