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Oracle Lands Major Federal HR Contract

28 Jun

Summary

Oracle secured a $395.8 million federal HR contract.
Analyst maintains 'Buy' rating on Oracle stock.
Company sees strong demand for its cloud systems.

Oracle Corporation recently received a substantial $395.8 million contract from the U.S. Office of Personnel Management. This award is for the modernization of federal HR systems, specifically focusing on delivering the government's first comprehensive HR platform.

This contract underscores the continued robust demand for Oracle's cloud-based solutions. An analyst from Jefferies recently maintained a 'Buy' rating on the company's stock, with a price objective of $320.

Despite some investor concerns over a maintained full-year sales outlook and a slight shortfall in cloud software sales compared to Wall Street estimates, the core AI growth narrative for Oracle remains strong. Analysts believe this fundamental strength is poised to support a rebound in the company's share price.

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