Jefferies, which is one of the Oracle bears with a hold rating and $32 price target on the stock, said its recent channel checks are pointing toward an in-line quarter.
"Our most recent field work suggests F1Q13 biz trends continued to be mixed, as integrated systems picked up steam (Exadata and ODA), software was in-line, and commodity hardware continued to deteriorate," the firm said. "The deal activity we heard of was mostly transactional, which is to be expected for a F1Q. We think there was some modest impact in the Q from typical sales reorganization efforts, although we don't think these were unusual and should be resolved by the end of F2Q13. Our F1Q13 ests are in-line with consensus and assume a result in-line w/ historic seasonality."
Check out TheStreet's quote page for Oracle for year-to-date share performance, analyst ratings, earnings estimates and much more.
>To contact the writer of this article, click here: Michael Baron.
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