Forecast Of The Day: Oracle’s Cloud Services & License Support Revenue
What?
Oracle’s (NASDAQ:ORCL) cloud services & license support revenue rose from around $27.4 billion in FY’20 to about $28.7 billion in FY’21. Trefis expects the metric to rise to around $30 billion in FY’22 and to around $31.6 billion in FY’23.
Why?
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We expect growth to be driven by an increasing shift from on-premise towards cloud-based computing.
So What?
We think the projected growth is largely priced into ORCL stock. We value Oracle at about $95 per share, roughly in line with the current market price.
See Our Complete Analysis For Oracle
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