The company also issued a strong full-year revenue forecast
Oracle Corp (NYSE:ORCL) stock is up 10.4% to trade at $194.64 at last check, after the cloud computing giant reported a fourth-quarter earnings and revenue beat. The company also issued an upbeat annual revenue forecast thanks to strong cloud artificial intelligence (AI) demand. At least 10 analysts hiked their price target in response, with the highest coming from Bernstein to $225 from $207.
The shares are set to resume gains after yesterday snapping a four-day win streak. Today's surge is also helping the security overcome resistance at the $180 region, which capped a February rally. Earlier jumping to its highest level of 2025, ORCL now sports a 42.4% year-over-year lead.
Drilling down to today's options activity, 76,000 calls and 40,000 puts have crossed the tape in just the first half hour of trading, which is 21 times the volume typically seen at this point. The most popular contract is the weekly 6/13 200-strike call, followed by the 195-strike call in that series, with new positions now opening at both.