Oracle Corporation (NYSE:ORCL) is one of the Best Cloud Computing Stocks to Buy According to Hedge Funds.
On June 23, Jefferies analyst Brent Thill maintained a “Buy” rating on the company’s stock and reiterated the price objective of $320
As per the analyst, the company continues to witness strong demand for cloud systems. The investors were concerned after the company kept the same full-year sales outlook. Furthermore, it witnessed a small drop in the cloud software sales, which fell short of the Wall Street estimates.
The analyst believes that, despite the short-term software drops, the core AI growth story remains strong and is expected to help rebound the shares. In a different update, the U.S. Office of Personnel Management (OPM) gave Oracle Corporation (NYSE:ORCL) a $395.8 million Federal HRIT Modernization Core Human Capital Management (HCM) contract.