Oracle demand appears ‘somewhat stable,’ says JPMorgan

Oracle shares have been "uniquely strong in the mega-cap software arena," among the very few that are close to 52-week highs, partly driven by Oracle Cloud Infrastructure traction, JPMorgan analyst Mark Murphy the analyst tells investors in a research note. Following an Oracle-hosted financial analyst session, the analyst says Oracle Cloud Infrastructure is scaling faster than Amazon Web Services and Azure. While macro headwinds may materialize, Oracle’s demand "appears somewhat stable at present," and there is upside to shares at current levels given the improving growth profile, contends the firm. It keeps an Overweight rating on the shares with a $93 price target.