Oracle (NYSE: ORCL), one of Wall Street’s most closely watched artificial intelligence infrastructure plays, heads into its fiscal fourth-quarter earnings report on June 10 with a wave of analyst upgrades behind it.
Multiple firms have raised their price targets ahead of the print, signaling confidence in Oracle’s cloud growth story despite broader questions about AI spending sustainability.
TD Cowen moved its target to $300, while Scotiabank raised its target to $290, with UBS analyst Karl Keirstead lifting his price target to $285 from $250.
Oppenheimer and Wedbush both moved their targets to $275, and Evercore ISI raised its target to $245, as Barclays reiterated an overweight rating on the stock at $240.
The consensus target now sits at $263.62, reflecting a moderate buy rating across the analyst community, with the stock trading near $212 and up 9.49% year to date.
Investors will be watching Oracle Cloud Infrastructure closely, with analysts projecting OCI growth of approximately 92% for the quarter, a figure that underscores Oracle’s ambitions in a market dominated by larger rivals.
The backlog data from last quarter was striking, with Oracle’s remaining performance obligations hitting $553 billion in Q3, up 325% year over year, one of the most dramatic demand signals in enterprise software history.
Oracle raised its fiscal year 2027 revenue target to $90 billion, and cloud infrastructure revenue grew 84% in the most recent quarter, providing a strong foundation heading into the June 10 report.
For the fiscal fourth quarter, analysts are expecting earnings per share of $1.96 on revenue of $19.10 billion, in line with Oracle’s own guidance of non-GAAP EPS between $1.96 and $2.00 and total revenue growth of 19% to 21%.
Oracle is also restructuring its product development model around AI code generation, building more software with smaller, more agile teams, a shift that feeds directly into the profitability metrics investors will be monitoring.
The company has committed to $50 billion in capital expenditure for fiscal 2026, a figure that has raised questions about margin pressure even as it signals aggressive investment in cloud capacity expansion.
Barclays has signaled that Oracle’s AI story remains intact, while Evercore has pointed to the ongoing cloud trend as justification for a higher valuation, together reflecting a broadly supportive Wall Street posture.
The June 10 earnings call, scheduled for 4 p.m. CST, will be less about whether Oracle beats projections and more about whether management can sustain the confidence analysts have extended ahead of one of the company’s most consequential reports in recent memory.
