Oracle's biggest critic, Goldman Sachs, admits it was wrong about rating the stock a sell
for its 2023 fiscal year, with a healthy 42% profit margin, excluding extraordinary expenses. And on Tuesday, Oracle's biggest critic, Goldman Sachs analyst Kash Rangan, admitted he was wrong.
Most analysts tracked by Yahoo Finance do not agree with that tepid recommendation. After Monday's earning, there are far more who rate the stock a buy/strong buy than a hold . So take that begrudging guidance from Rangan with a grain of salt. What's swayed him and others is that Oracle's underlying fundamentals are astoundingly good at the moment for a software company as mature as it is, even while it plays catch-up to the biggest trend in tech, the shift to cloud computing.
It spent $8.7 billion on capital expenditure, mostly for data centers, in 2023 and she has decided to go ahead and spend that much again in fiscal 2024. And because Oracle has partnered with Microsoft , Oracle cloud customers can easily access a broader set of cloud services from Azure, a far bigger cloud provider.
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