Oracle Stock Jumps On Earnings Beat

Oracle stock jumped Monday after the database software giant reported fiscal thirdquarter earnings that exceeded expectations, with sales that were in-line with consensus estimates.

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Oracle (ORCL) said that it earned an adjusted $1.41 per share on sales of $13.28 billion for the February-ending quarter. On average, analysts projected the Austin, Texas-based company would post adjusted earnings of $1.38 per share on sales of $13.28 billion, according to FactSet.

Adjusted earnings increased 16% year over year while sales increased 7%.

On the stock market today, Oracle stock is up more than 6% at 121.50 in after-hours action.

More earnings coverage to come.

Oracle Stock: Technical Ratings

Prior to earnings, Oracle gained 1.5% in Monday trading to close at 114.12. Shares have advanced 10% this year and are up 34% over the past 12 months. But Oracle stock slumped following its two earnings reports prior to Monday, leaving shares about 10% below a six-month high around 130 that it reached in September.

Meanwhile, IBD Stock Checkup shows that Oracle has a so-so Composite Rating of 69 out of a best-possible 99, heading into its earnings report. The rating means Oracle stock currently outperforms 69% of all stocks based on fundamental and technical stock-picking criteria.

In addition, shares have a Relative Strength Rating of just 50 out of 99. The RS score measures how a stock’s price performance over the last 52 weeks holds up against other stocks in IBD’s database.

Oracle shares have formed a consolidation pattern over the past 38 weeks, according to IBD MarketSurge charts, which shows a 127.54 buy point for the pattern.


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