Oracle Corporation (ORCL) Cloud Forum Meeting Takeaways

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Oracle Corporation (ORCL) Cloud Forum Meeting Takeaways
By Sanatan2014 (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Oracle Corporation (NYSE:ORCL) hosted the Cloud Forum Meeting at its Redwood City headquarters on April 29. Cantor Fitzgerald analyst Brian J. White, who attended the event, said Oracle plans to reach out to critical mass. That’s necessary to drive momentum and new customers. White has a Buy rating on the stock with $50 price target.

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Oracle focused on providing high value-added offerings

Statistics clearly show strong momentum in Oracle Corporation (NYSE:ORCL)’s cloud business. In September 2013, the company had 2 million subscribed users of Fusion Applications. The number  reached to 5 million by the end of February this year. The software giant’s cloud bookings surged 60% YoY during the third quarter ended February 2014. Oracle said at the event that it is focused on providing high value-added offerings, besides running data centers.

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Oracle Corporation (NYSE:ORCL) said at the Cloud Forum Meeting that it is currently operating 19 data centers, up from 13 in September 2013. These data centers support more than 12,000 devices, 28 million active users  per day, 270PB of storage, and 23 billion daily transactions. Cantor Fitzgerald says Oracle’s cloud business is unique in the sense that it offers an integrated stack of hardware and software engineered to work together. Oracle provides a wide range of capabilities across all three cloud layers, IaaS, PaaS and SaaS.

Oracle to be a major consolidator in the cloud business

Cantor Fitzgerald believes that Oracle Corporation (NYSE:ORCL) will be a major consolidator in the cloud industry. Over the past few years, customers have been purchasing disparate SaaS products from several vendors. But now they are looking to consolidate the offerings to improve efficiencies. The company indicated that it plans to be a major consolidator in the industry as it’s the only company that offers all three layers of cloud.

Brian J. White noted that the traditional, high-quality tech stocks like Oracle Corporation (NYSE:ORCL) are undervalued. As investors gain a better understanding of the company’s cloud strategy, the market would reward the stock.

Oracle Corporation (NYSE:ORCL) shares gained 0.34% to $41.02 at 11:14 AM EDT on Thursday.

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