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What's Going On With Oracle Stock on Friday?
Benzinga • • business
Key Points:
- The U.S. Defense Department awarded Oracle a 10-year, nearly $7 billion enterprise software contract, streamlining procurement and expected to save taxpayers at least $441 million.
- Despite the contract, Oracle's stock remains in a bearish trend, down over 50% in the past year and trading significantly below key moving averages, though its oversold RSI suggests a potential near-term bounce.
- Key technical levels to watch include resistance at $136.28 (20-day SMA) and support at $119.44 (52-week low), with the stock currently close to its lowest price in a year.
- Analysts expect Oracle's September 2026 earnings to show growth, with EPS estimated at $1.67 and revenue at $19.12 billion, and maintain a Buy rating with an average price target around $260.
- Oracle's stock is heavily weighted in major ETFs, meaning inflows or outflows in these funds could significantly impact the stock's trading; premarket trading shows a 2.24% increase to $122.72.
