DiFucci added that the Applications business, which grew 27% year-over-year in constant currency, was driven by strength in Healthcare, Retail, and Financial Services. "We believe this is an area of focus as Oracle plans to provide deeper functionality within targeted industries and hence, we would not be surprised to see future M&A activity tied to this strategy," he said.
UBS analyst Brent Thill, was spot-on with his fourth-quarter estimates and maintains his buy rating and $36 price target; however, he added that there is "still work to do in the Cloud and selling the full IT stack story to customers."
Oracle shares are gaining 2.56% in Tuesday trading, last changing hands at $27.82.
-- Written by Nathalie Pierrepont in New York.>To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. >Contact by Email. Follow @nrpierrepont
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV