Licence shift adds to complexity
ORCL's cloud transition remains unpredictable, with on-premise strength and deteriorating cloud growth likely to be disconcerting for investors. The company insists this reflects demand for licences that can then be used in the cloud, but this new development adds another layer of complexity in understanding the dynamics of Oracle's migration. That said, mid to high single digit EPS growth over the medium term still looks the right base case. Maintain Neutral.Oracle provides products and services that address enterprise information technology (IT) environments. The company's products and services include applications and infrastructure offerings. The company's cloud and license business engages in the sale, marketing and delivery of its applications and infrastructure technologies through cloud and on-premise deployment models including its cloud services and license support offerings; and its cloud license and on-premise license offerings. The company's hardware business provides Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management and other hardware-related software to support diverse IT environments.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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