Update: BofA Securities Raises Price Target on Oracle to $240 From $200, Buy Rating Kept

(Updated to include BofA's commentary)

BofA Securities raised its price target on Oracle (ORCL) to $240 from $200 ahead of its fiscal Q4 results, noting that underlying demand trends are strong throughout both cloud infrastructure and database workloads.

The key areas of focus are centered on data center buildout and pace of revenue recognition, capex and financing needs tied to DC buildout, and sustained strength in the core business, analysts led by Tal Liani wrote in a Tuesday note.

Oracle has an average rating of overweight and mean price target of $255.46, according to analysts polled by FactSet.

Price: $217.09, Change: $+5.27, Percent Change: +2.49%

What else is happening in Wire?

Wire97d ago

Mission Produce Fiscal Q2 Adjusted Earnings, Revenue Fall; Shares Drop After Hours

Mission Produce (AVO) reported fiscal Q2 non-GAAP net income late Monday of $0.01 per diluted share, down from $0.12 a year earlier.Three analysts polled by FactSet expected $0.05.Revenue in the three months ended April 30 fell to $290.9 million from $380.3 million a year earlier.Three analysts expected $256.3 million.The board approved a stock repurchase program of up to $100 million over the next 36 months.The company's shares fell 5.9% in after-hours trading.

$AVO

Wire97d ago

Mama's Creations Fiscal Q1 Earnings, Revenue Rise

Mama's Creations (MAMA) reported fiscal Q1 earnings late Monday of $0.05 per diluted share, up from $0.03 a year earlier.Analysts polled by FactSet expected $0.03.Revenue in the three months ended April 30 rose to $52.8 million from $35.3 million a year earlier.Analysts expected $51.6 million.The company's shares fell 2.6% in after-hours trading.

$MAMA

Wire97d ago

Tango Therapeutics Launches $500 Million Stock Offering

Tango Therapeutics (TNGX) said Monday it is launching $500 million underwritten public offering of common stock.All shares are offered by the company, according to a statement.Tango said it will grant underwriters a 30-day option to purchase up to an additional $75 million of shares.

$TNGX