Oracle Corp. (ORCL) - Get Oracle Corporation Report shares have been on a steady rise, climbing 3% in the past three trading sessions. On the year, Oracle stock is already up roughly 20% and investors are hoping that momentum will continue when it reports earnings on Wednesday after the close.
After missing earnings per share estimates two quarter in a row, Oracle has now beaten estimates over the past two quarters. The company will look to build on that streak Wednesday, TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange Tuesday.
He expects to hear co-founder, executive chairman and CTO Larry Ellison and CEO Mark Hurd talk about Oracle's "burgeoning cloud business" when it comes to the conference call.
While Cramer expects Oracle to report a good result, he acknowledged that the stock just doesn't move that much. There very little beta, he explained. With that said, Oracle buys back a lot of stock and has been quietly rallying higher. That's a good fit for some investors, he reasoned.
Analysts expect Oracle to earn 78 cents per share on $10.45 billion in revenue for the most recent quarter.
Oracle's shares rose 1.2% to $46.41 early Wednesday afternoon.
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At the time of publication, Cramer's Action Alerts PLUS had no position in any companies mentioned.