Oracle Shares Surge 8% After Q3 Revenue Beat, JPMorgan Upgrades to Overweight
Oracle's shares jumped about 8% in after-hours trading after reporting stronger-than-expected fiscal Q3 revenue. JPMorgan upgraded the company to Overweight with a $210 target price, lowered from $230, reflecting confidence in cloud growth and cost discipline.
1. After-Hours Stock Surge
Oracle reported fiscal Q3 revenue that exceeded analyst expectations, driving its shares up approximately 8% in after-hours trading. The beat was attributed to stronger cloud services sales and renewed enterprise license deals.
2. JPMorgan Overweight Rating
JPMorgan upgraded Oracle to Overweight while lowering its 12-month price target to $210 from $230, citing confidence in continued cloud revenue growth and disciplined expense management. The rating change signals optimism about Oracle's competitive position in AI and enterprise software.