Oracle Corporation is a global technology company known for its enterprise software products and cloud services. Founded in 1977 by Larry Ellison, Bob Miner, and Ed Oates, Oracle is one of the largest software companies in the world. Its flagship product is the Oracle Database, a popular relational database management system (RDBMS), but the company also offers a wide range of other enterprise software solutions, including cloud applications, middleware, and hardware.
Oracle shares saw a pullback as analysts assessed the company’s ambitious forecast of reaching $100 billion in revenue by fiscal 2029. While the tech giant’s long-term outlook has sparked interest, some market participants are exercising caution, awaiting more concrete details on how Oracle plans to achieve this significant growth target, especially in the competitive cloud computing sector. This tempered reaction reflects investor uncertainty amid broader market fluctuations and industry competition.
- Previous Close: $161.38
- Open: $173.70
- Volume: 3,443,210 shares
- 3-Month Average Trading Volume: 173.57 million shares
- Shares Outstanding: 2,770.97 million
- Market Capitalization: $448.98 billion
- Forward Price-to-Earnings (P/E) Ratio: 25.91
- Dividend Yield: 0.99%
This data reflects Oracle’s strong market presence, with its large market cap and solid dividend yield offering long-term growth potential, particularly in the evolving cloud computing space. The high P/E ratio signals investor confidence in the company’s future earnings growth
By Jaspreet Singh
(Reuters) – Oracle shares trimmed most of their earlier gains on Friday after surging nearly 8%. Some analysts voiced concerns over the company’s ambitious forecast of surpassing $100 billion in revenue by fiscal 2029, fueled by AI-driven demand for its cloud services.
During its annual briefing for financial analysts on Thursday, Oracle projected $104 billion in revenue for fiscal 2029. The company, which serves major clients like AT&T, Lyft, and Cognizant, remains optimistic about the role of AI in driving growth.
As businesses increasingly rely on cloud services from providers such as Oracle, Microsoft, and Amazon to power AI capabilities and manage daily operations, the competition continues to heat up in this rapidly evolving sector
Its shares have risen more than 50% this year as of Thursday’s close, far outpacing those of larger rival cloud providers Microsoft (MSFT.O) and Amazon.com (AMZN.O) which are up about 14% and 23%, respectively.
