Although Oracle disappointed on its latest earnings report, it has just made its future a bit brighter with the addition of 25 more cloud services to its service and product portfolio. The company is just one of many which are in the race for dominance in the cloud market, and this week’s unveilings will go a long way in improving Oracle’s positioning.
Oracle covering all the cloud bases
The company showed off new infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) solutions for enterprise customers. The solutions are added to the software-as-a-service (SaaS) solutions Oracle already offers, thus filling in any holes that previously existed in the company’s cloud service lineup.
Cantor Fitzgerald analysts Brian White and Isabel Zhu said the new services make Oracle unique in that it is now “the only leading IT vendor with a broad offering across all three layers of the cloud.” They added that the company is expanding its cloud offering at a faster pace than they had previously expected.
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Details on the new cloud offerings
Among the new cloud products and services unveiled this week are Oracle Database Cloud-Exadata, Oracle Archive Storage Cloud, Oracle Big Data Cloud, Oracle Process Cloud, Oracle Mobile Cloud and Oracle Integration Cloud. The company is offering all of its services at very competitive prices as it aims to dominate the cloud market. The Cantor Fitzgerald team also thinks Oracle’s new offerings are fast and easy to use.
With the 25 new products spread across all three tiers of the cloud, the analysts say ORCL has brought itself beyond competition with Workday, Salesforce and other companies in this category and into competition with Amazon Web Services. The company focused on how it can offer cloud services on all three layers, although Amazon Web Services is focused mainly on IaaS solutions.
Oracle also said its cloud services are four times faster than Amazon Web Services and require less management time. Further, the company’s archive cloud storage service is 10 times lower than the price of Amazon’s Glacier for an archive of 20PB.
White and Zhu reiterated their Buy rating and $48 per share price target on ORCL. As of this writing, shares of Oracle were down 0.34% at $41.58 per share.