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Oracle (ORCL) Cloud Leveraged by Prosper Digital Therapeutics
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Oracle’s (ORCL - Free Report) Oracle Cloud Infrastructure (OCI) Data Science solution is being leveraged by Prosper Digital Therapeutics (ProsperDTX).
Oracle Cloud Infrastructure Data Science platform aids data scientists in creating, implementing and management of machine learning models. The solution is anticipated to help the healthcare-focused company to effectively process huge data and slash time to market for its healthcare solutions.
Prosper Digital Therapeutics is engaged in improving patient care by integrating patient medical data with machine learning and chalk out customized treatment plans.
Prosper Digital Therapeutics already deploys OCI Object Storage and Oracle’s Autonomous Data Warehouse to solutions pull and store data in real-time from numerous sources (smart wearables and medical records data). This facilitates the company to enhance predictive modelling, noted Oracle.
The deal is a notable win for Oracle as it reflects on strength of its cloud services. Such deal wins are expected to enhance the company’s cloud revenues in the upcoming quarters and instil investors’ confidence in the stock.
Notably, Oracle’s shares have returned 49.9% compared with the industry’s rally of 65%.
Opportunities in the Cloud Space Augurs Well
Worldwide business enterprises were promptly shifting their workloads to cloud even before the COVID-19 crisis. The pandemic only accelerated this shift due to remote work, online learning and telehealth trends.
Per a Mordor Intelligence report, the global cloud migration services’ market is expected to witness a CAGR of 28.89% between 2021 and 2026. Migration to cloud offers enterprises increased scalability, faster deployment, cost efficiency and higher security.
Further, global healthcare cloud computing market is expected to witness a CAGR of 18.1% between 2020 and 2025, according to a MarketsAndMarkets report. Apart from rapid increases in telehealth services’ demand, the healthcare cloud computing market is being driven by adoption of innovative technologies like Internet of Things (IoT) and big data analytics in healthcare as well as increasing proliferation of smart wearable devices.
For cloud service providers like Oracle, this underscores massive revenue growth opportunity. Oracle is gaining ground in the cloud space. Both its software-as-a-service (SaaS) and platform-as-a-service (PaaS) products are anticipated to witness strong uptake over the next few years as enterprises increasingly migrate to the cloud.
Moreover, the next-generation autonomous database rolled out by Oracle, which is supported by machine learning (ML), is gaining considerable traction. New product launches, including new OCI managed services, are likely to boost growth in this category. Autonomous database in Gen2 public cloud infrastructure is also witnessing healthy uptake.
In the third quarter of fiscal 2021, Cloud services and license support revenues, contributing 72% to total revenues, increased 5% year over year to $7.252 billion.
Nevertheless, Oracle needs to watch out for increasing competition from dominant cloud players like Amazon’s (AMZN - Free Report) Amazon Web Services (“AWS”), Microsoft’s (MSFT - Free Report) Azure and Alphabet’s (GOOGL - Free Report) Google Cloud.
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Oracle (ORCL) Cloud Leveraged by Prosper Digital Therapeutics
Oracle’s (ORCL - Free Report) Oracle Cloud Infrastructure (OCI) Data Science solution is being leveraged by Prosper Digital Therapeutics (ProsperDTX).
Oracle Cloud Infrastructure Data Science platform aids data scientists in creating, implementing and management of machine learning models. The solution is anticipated to help the healthcare-focused company to effectively process huge data and slash time to market for its healthcare solutions.
Prosper Digital Therapeutics is engaged in improving patient care by integrating patient medical data with machine learning and chalk out customized treatment plans.
Prosper Digital Therapeutics already deploys OCI Object Storage and Oracle’s Autonomous Data Warehouse to solutions pull and store data in real-time from numerous sources (smart wearables and medical records data). This facilitates the company to enhance predictive modelling, noted Oracle.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
The deal is a notable win for Oracle as it reflects on strength of its cloud services. Such deal wins are expected to enhance the company’s cloud revenues in the upcoming quarters and instil investors’ confidence in the stock.
Notably, Oracle’s shares have returned 49.9% compared with the industry’s rally of 65%.
Opportunities in the Cloud Space Augurs Well
Worldwide business enterprises were promptly shifting their workloads to cloud even before the COVID-19 crisis. The pandemic only accelerated this shift due to remote work, online learning and telehealth trends.
Per a Mordor Intelligence report, the global cloud migration services’ market is expected to witness a CAGR of 28.89% between 2021 and 2026. Migration to cloud offers enterprises increased scalability, faster deployment, cost efficiency and higher security.
Further, global healthcare cloud computing market is expected to witness a CAGR of 18.1% between 2020 and 2025, according to a MarketsAndMarkets report. Apart from rapid increases in telehealth services’ demand, the healthcare cloud computing market is being driven by adoption of innovative technologies like Internet of Things (IoT) and big data analytics in healthcare as well as increasing proliferation of smart wearable devices.
For cloud service providers like Oracle, this underscores massive revenue growth opportunity. Oracle is gaining ground in the cloud space. Both its software-as-a-service (SaaS) and platform-as-a-service (PaaS) products are anticipated to witness strong uptake over the next few years as enterprises increasingly migrate to the cloud.
Moreover, the next-generation autonomous database rolled out by Oracle, which is supported by machine learning (ML), is gaining considerable traction. New product launches, including new OCI managed services, are likely to boost growth in this category. Autonomous database in Gen2 public cloud infrastructure is also witnessing healthy uptake.
In the third quarter of fiscal 2021, Cloud services and license support revenues, contributing 72% to total revenues, increased 5% year over year to $7.252 billion.
Nevertheless, Oracle needs to watch out for increasing competition from dominant cloud players like Amazon’s (AMZN - Free Report) Amazon Web Services (“AWS”), Microsoft’s (MSFT - Free Report) Azure and Alphabet’s (GOOGL - Free Report) Google Cloud.
Currently, Oracle carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>