Oracle Corp. (NYSE:ORCL) shares are trending on Thursday.
Check out the current price of ORCL stock here.
The Texas-based company surged 35.95% in the regular trading session on Wednesday and gained an additional 1.42% in after-hours trading, reaching $333, following the release of exceptional first-quarter fiscal 2026 results that revealed record-breaking AI infrastructure demand.
Record-Breaking RPO Growth Drives Stock Rally
The enterprise software giant reported Remaining Performance Obligations (RPO) totaling $455 billion, marking a remarkable 359 percent increase compared to the same period last year. This sharp rise was primarily driven by four multi-billion dollar contracts signed with three different customers during the quarter.
Cloud Infrastructure Revenue Projections Fuel Investor Optimism
Oracle’s forward guidance significantly exceeded Wall Street expectations. The company projects Cloud Infrastructure revenue growth of 77% to $18 billion in fiscal year 2026, followed by aggressive expansion to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four years.
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Cloud Infrastructure (IaaS) revenue reached $3.3 billion in the first quarter, up 55% year-over-year, while total cloud revenue hit $7.2 billion, growing 28% annually.
MultiCloud Strategy Delivers Explosive Growth
Chairman and Chief Technology Officer Larry Ellison highlighted the company’s MultiCloud database revenue from Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) and Microsoft Corp. (NASDAQ:MSFT), which grew an extraordinary 1,529% in the first quarter.
“We expect MultiCloud revenue to grow substantially every quarter for several years as we deliver another 37 datacenters to our three Hyperscaler partners,” Ellison stated. Oracle plans to introduce an “Oracle AI Database” service next month, enabling customers to use various Large Language Models directly on Oracle Database infrastructure.
Wall Street Analysts Upgrade Price Targets
After the earnings report, several analysts sharply raised their price targets for Oracle. Brent Bracelin from Piper Sandler bumped his target up from $270 to $330, while Patrick Walravens at Citizens JMP lifted his forecast to $342. Meanwhile, Bank of America upgraded Oracle’s rating from Neutral to Buy and set a new price target of $368.
The rise in Oracle's stock pushed co-founder Larry Ellison's wealth close to $400 billion, making him the richest person in the world for a short time. Even though the company slightly missed earnings expectations by reporting $1.47 per share compared to the expected $1.48.
With a market capitalization soaring to $922.22 billion, the AI enabler became the 12th most valuable publicly traded company in the world on Wednesday. Its stock, which has traded between $118.86 and $345.72 over the past year, commands a lofty price-to-earnings ratio of 75.62 while offering investors a modest dividend yield of 0.61%.
Price Action: According to Benzinga Pro data, ORCL closed at $328.33 on Wednesday.
ORCL is showing strong momentum, ranking in the 88th percentile according to Benzinga’s Edge Stock Rankings. This indicates a positive price trend across all time frames. See how its momentum compares to other well-known stocks.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
