Analyst Dan Ives raises Oracle’s target amid strong AI infrastructure demand and a record $553 billion contracted backlog.
Wedbush increased its Oracle price target to $275 from $225, citing the company’s $553 billion backlog as evidence of robust AI-driven demand. The adjustment marks the second hike in three weeks, following an initial $225 target set in late April.
Oracle’s backlog includes a $300 billion cloud contract with OpenAI over five years, reinforcing its shift from legacy software to a key AI infrastructure provider. The stock remains 50% below its September 2025 peak despite the bullish outlook.
Shares fell sharply last month after reports questioned OpenAI’s revenue growth, but Wedbush called the selloff an overreaction, reaffirming its outperform rating.