Oracle Stock Upgraded on AI Tailwinds

ORCL's options pits have been extremely bullish in the last 10 weeks

Deputy Editor
Aug 29, 2023 at 10:48 AM
facebook X logo linkedin


Oracle Corp (NYSE:ORCL) is up 2.2% at $119.36 at last glance, after UBS upgraded the software stock to "buy" from "neutral," with a price-target hike to $140 from $120. The firm noted the shares have "plenty of room to run," and pointed out that it looks as though artificial intelligence (AI) start-ups are increasing their use of Oracle Cloud Infrastructure. 

Out of the gate, ORCL traded at its highest level since July 19. However, today's pop is now running out of steam around $120, an area of consolidation since a June 15 record high of $127.54. Year-to-date, the equity is up 45.8%. 

In the options pits, ORCL calls have been picked up at their fastest pace all year. The security's 50-day call/put volume ratio of 2.64 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than all other readings from the past 12 months. Today, 14,000 calls have been exchanged so far in comparison to 8,173 puts. 

Of the 33 analysts in coverage, 14 carry a "buy" or better rating on Oracle stock, with 19 a tepid "hold." Meanwhile, the 12-month consensus price target of $125.63 is a 5% premium to current levels. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI