Oracle Skyrocketed and There Could Be Further Gains, Jefferies Says
Oracle posted blockbuster gains on Wednesday, and the rally may not be over, according to equity analysts at Jefferies.
The surge in Oracle’s stock price came after the software giant shocked Wall Street with a record $455 billion in remaining performance obligations, or RPO — a measure of contracted future revenue — in its fiscal first quarter.
That figure was up 359% year over year, surpassing cloud rivals Microsoft, Amazon, and Google, according to Jefferies’ analysis.
Following the earnings release, Oracle’s New York-listed stock closed 36% higher at $328.33 on Wednesday — its best one-day performance since 1992.
The phenomenal gains also briefly propelled CEO Larry Ellison to the position of the
