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Should you buy Oracle shares despite lower-than-expected Q1 earnings?

Oracle Corporation (NYSE: ORCL) reported not-so-encouraging earnings for its fiscal first quarter on Monday. Shares are still up after the bell on better-than-expected revenue.  

Oracle shares are a buy here

The tech stock has already climbed 20% over the past three months but Brian J. White – Analyst at Monness Crespi Hardt is convinced the rally is far from over yet.

Despite a more precarious environment, we believe there remain tailwinds in Oracle’s cloud transformation, and there could be some sales wiggle room from Cerner.

Cerner – the health information technology company it bought last year for $28 billion brought in $1.40 billion in revenue this quarter. Oracle expects that acquisition to contribute even more moving forward.

White has a “buy” rating on Oracle shares with upside to $113 that represents a 45% upside from here. The stock is trading right at its 200-day MA in after-hours.

Key takeaways from Oracle Q1 earnings report

Net income printed at $1.55 billion versus the year-ago $2.46 billion
Per-share earnings slipped from 86 cents to 56 cents
Adjusted EPS was $1.03 as per the earnings press release

Revenue jumped 18% on a year-over-year basis to $11.45 billion
Consensus was $1.08 of adjusted EPS on $11.33 billion in revenue
Revenue from cloud services and license support jumped 14%
Maintained quarterly cash dividend at 32 cents per share

Executives did not offer guidance for the future on Monday. You can listen to the earnings call here.

The post Should you buy Oracle shares despite lower-than-expected Q1 earnings? appeared first on Invezz.

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