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Is Oracle (ORCL) A Buy Ahead of Fiscal Q1 Earnings Announcement?
Enterprise software giant Oracle (ORCL - Free Report) is set to report fiscal first-quarter earnings results on Monday after the bell. The bullish artificial intelligence theme has helped propel ORCL stock more than 50% this year. Oracle, currently a Zacks Rank #3 (Hold), has exceeded the earnings mark in three of the past four quarters. But given weakness in tech stocks as of late, is ORCL a buy?
Oracle is expected to post a profit of $1.14/share, which would reflect growth of 10.68% versus the same quarter last year. Revenues are projected to have increased 8.82% to $12.45 billion during the quarter.
The company boasts an average earnings beat of 1.76% over the last four quarters. Estimates for the first-quarter results have remained steady over the past 60 days. Our proven Zacks model does not conclusively predict another beat for the quarter.