Oracle (NYSE:ORCL) shares surged more than 5% pre-market today after the company reported its Q4 earnings results, with EPS of $1.67 coming in better than the Street estimate of $1.58. Revenue was $13.8 billion, beating the Street estimate of $13.74 billion.
Following the results, Wolfe Research upgraded the company to Outperform from Peer Perform with a $130 price target based on accelerating revenue and EPS growth due to the OCI adoption and AI tailwinds.
Another Wall Street firm, Goldman Sachs upgraded the stock to Neutral from Sell with a price target of $120.00.