Yahoo Finance Oracle (ORCL) Cloud Infrastructure Services Get FedRAMP's Nod
Oracle ORCL has received approval from FedRAMP for an expanded list of Oracle Cloud Infrastructure (“OCI”) services, making more cloud services available to customers in defence, civilian and intelligence community.
The approved additional services include: Java Management Service, Oracle Cloud Advisor, VPN Connect, Oracle Cloud Infrastructure Bastion, Network Visualizer and Vulnerability Scanning Service.
Some other approved services are Oracle Cloud Infrastructure GoldenGate, Programmable Network Platform (Dynamic Routing Gateways Transit Hub), Data Integration and Logging Analytics.
Oracle obtained approval for its services by engaging a third-party assessment organization recognized by FedRAMP. These services underwent a comprehensive evaluation and were subsequently approved by technical representatives from FedRAMP's Joint Authorization Board for use within OCI's FedRAMP Authorized (High) offering.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle’s Persistent Growth in the Cloud Infrastructure Market
Oracle, which currently has Zacks Rank #3 (Hold), has been relentlessly growing in the cloud infrastructure market. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Oracle have gained 20.2% year to date compared with the Zacks Computer and Technology sector’s increase of 22.7% in the same period.
Oracle expects total cloud growth for Q4, excluding Cerner, will be above 30% in cc. The company expects growth in operating profit to be double digit. Non-GAAP EPS is expected to grow between 3% and 5% and between $1.59 and $1.63 in cc.
The Zacks Consensus Estimate for ORCL’s fourth-quarter fiscal 2023 earnings is pegged at a profit of $1.58 per share, indicating year-over-year growth of 2.60%. The Zacks Consensus Estimate for revenues is pegged at $49.86 billion, indicating year-over-year growth of 17.47%.
Gartner’s 2022 Magic Quadrant for Cloud Infrastructure shows that Amazon.com’s AMZN Amazon Web Services (“AWS”) is going to be recognized as the leader for 12th consecutive year, followed by Microsoft’s MSFT Azure and Alphabet’s GOOGL Google.
AWS and Microsoft’s virtual machines come with pre-defined configurations of CPU cores and RAM. To increase the RAM or memory cache, additional CPU cores will also be taken regardless of how computationally intensive the requirements may be. Oracle, on the other hand, has offered flexibility from the time of inception. It has an option to dial up or down the number of CPUs and RAM by using the OCI cost estimator.
Oracle also has an on-premise cloud delivery for large enterprises and governments who require flexibility of cloud. The company also offers its always-free tier which has more items for free for longer than the competitors. This encourages more consumers to experience and eventually purchase ORCL’s services.
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