Citi analyst Tyler Radke lowered the firm’s price target on Oracle (ORCL) to $160 from $194 and keeps a Neutral rating on the shares. The company reported “another mixed print” with fiscal Q3 revenue metrics coming in below expectations due to slower ramp of cloud and incremental currency headwinds, the analyst tells investors in a research note. The firm says the strength of remaining performance obligation was an offset once again growing at 63% year-over-year. Citi sees continued revenue conversion and margin uncertainties on Oracle Cloud, which it believes could limit positive estimate revisions.
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