FBR Capital Markets Sees Oracle Corporation Moving in Right Direction

In a report published Tuesday, FBR Capital Markets analyst Daniel H. Ives reiterated an Outperform rating and $48.00 price target on

. In the report, FBR Capital Markets noted, "Our recent checks around Oracle (ORCL) have left us incrementally positive as data points indicate deal momentum so far in F3Q15(February) has slightly picked up in the field in the all-important cloud business, as this transition (e.g., move to subscription-based model) continues at a rapid pace, although in the face of foreign currency headwinds for the overall business. To this point, Oracle's newer cloud solutions have been a major focus for investors and remain a key ingredient to the company's recipe for success, in our view. While it is still early days in the cloud, our discussions in the field point to Oracle's ability to provide a comprehensive cloud foundation as a key determinant for customers signing on the dotted line, and we believe this ‘one-stop shop' approach will continue to support healthy cloud revenue growth." Oracle Corporation closed on Monday at $43.40.