Barclays is getting optimistic on Oracle ahead of its upcoming quarterly report, as the tech company is expected to give more details on a major contract unveiled in June. The bank raised its price target on the cloud software giant to $281 per share from $221 in a Monday note, while reiterating its overweight rating. Barclays' forecast implies nearly 18% upside. Analyst Raimo Lenschow thinks this report "will be very different versus other years." He said that's because of "the very large $30bn contract the company discussed in an 8K filing released late June." ORCL YTD mountain ORCL year to date "We expect more details on the contract this quarter regarding the impact on RPO (the contract is likely multi-year, which means a $30bn ARR contract could drive RPO up very meaningfully again) but also the CapEx needed to be able to deliver the contract," he said. The analyst added that his company checks show Oracle could exceed consensus expectations. He pointed to "customer interest around key product/growth areas like Oracle OCI [Oracle cloud infrastructure], Autonomous Database and ORCL [while] apps also remained consistent to better q/q, rounding out overall more constructive results vs. last quarter." Oracle is set to report fiscal first-quarter results Tuesday after the closing bell. Analysts polled by LSEG expect a profit of $1.48 per share on revenue of $15.04 billion. That points to year-over-year earnings growth of more than 6% and revenue expansion of 13%. Shares have gained more than 43% in 2025. The stock added 1% in the premarket.
