Oracle Growing In Cloud, But Challenges Remain

Cloud & Services IT Asset Management News | 0 comments

by | October 30, 2014


Oracle’s road to the cloud is getting smoother, but more than a few potholes remain. Analysts have offered mixed assessments of the database leader since its annual OpenWorld conference Sept. 28-Oct. 2, where executives discussed new products in data analytics and mobile, along with moves to help the firm transition from a license model to a cloud subscription model in order to compete with Salesforce.com (NYSE:CRM), Workday (NYSE:WDAY), SAP (NYSE:SAP) and others.

Oracle (NYSE:ORCL) has some momentum, thanks to new cloud products such as platform-as-a-service middleware, 54% year-over-year cloud-based bookings growth in its fiscal Q1 ended Aug. 31 and a sales team that has expanded over the last few years, said J. Derrick Wood, an analyst for Susquehanna Financial Group, in a report this month. He rates Oracle stock as positive.

“We feel the bulk of the product and sales force investments around the cloud are complete,” he wrote. “We think Oracle is positioned to stabilize the one area that has caused most of the execution challenges in recent quarters, which should lead to improvements in overall growth execution.”

SOURCE: investors.com

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