Piper Jaffray Reiterates “Overweight” Rating for Oracle; Integrated Appliances Should be Strong (ORCL)
Enterprise software giant Oracle Corporation ( ORCL ) on Thursday caught some positive commentary from analysts at Piper Jaffray.
The firm maintained its "Overweight" rating on ORCL, citing expected success in the company's integrated appliances business. That unit offers a combination of hardware and software services bundled together.
A Piper analyst commented, "12% of CIOs are 'Likely' or 'Very Likely' to adopt an integrated hardware/software appliance from Oracle, such as Exadata. Considering the very early stage and emerging nature of the Exadata product cycle, the high price point for Exadata boxes (around $1M+) and the breadth of Oracle's customer base (>300K database customers), a 12% adoption rate seems encouraging, in our view."
Oracle shares, which have been flat year-to-date, were unchanged in premarket trading Thursday.
The Bottom Line
Shares of Oracle Corporation ( ORCL ) have a .77% dividend yield, based on last night's closing stock price of $31.35. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels.
Oracle Corporation ( ORCL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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