Oracle upgraded to Outperform from Market Perform at JMP Securities

JMP Securities upgraded Oracle to Outperform from Market Perform with a $175 price target. The company reported better than expected fiscal Q1 results while guidance was better on earnings and in line on revenue, the analyst tells investors in a research note. The firm says that after 13 years of single-digit organic total revenue growth, Oracle is reaccelerating into the double digits with CEO Safra Catz commenting on the call that “we remain very confident and committed to full-year total revenue growth growing double digits.” The company’s revenue growth is accelerating because it has “successfully evolved into a leading strategic cloud platform services provider,” contends JMP.