Cloud computing stocks have been gaining attention as the industry is poised for significant growth in the coming years. Oracle Corporation (NYSE:ORCL) is one of the key players in this space and ranks high among the best cloud computing stocks to buy now. The company recently reported strong financial results, with a 3% year-over-year increase in total revenue for the fourth quarter and a 9% growth in cloud services and license support revenue. Additionally, Oracle saw a 44% increase in total remaining performance obligations for the fourth quarter.
Oracle has been assigned a “Moderate Buy” rating by analysts, with an average 12-month price target of $149.35, indicating a potential upside of over 6% from the current price. The company’s cloud infrastructure product, OCI 2.0, has shown strong revenue growth over multiple quarters, and the rapid growth of artificial intelligence (AI) computing needs is seen as a positive driver for Oracle.
Oracle ranks sixth on the list of the best cloud computing stocks to buy, based on the number of hedge fund investors. While Oracle shows promise as an investment, there may be more potential for higher returns in AI stocks. It is suggested to explore AI stocks that offer more promise for generating higher returns in a shorter period of time. For more information on cloud computing stocks and AI stocks, readers can refer to the Top 10 Cloud Computing Stocks to Buy Now and The Cheapest AI Stocks reports.
In conclusion, the cloud computing industry is experiencing significant growth, with key players like Oracle well-positioned to benefit from this trend. Investors looking to capitalize on the growth in cloud computing may find Oracle a promising investment option, while those seeking higher returns in a shorter timeframe may want to consider AI stocks as well. Keep an eye on the developments in both sectors to make informed investment decisions.
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