Oracle Corporation (ORCL - Free Report) recently announced extension of its alliance with Samsonite Europe, following which the latter will integrate Oracle’s Order Broker Cloud Service to enhance customer experience.
Through various alliances and partnerships with the likes of IBM and contract wins in the global luggage market, Oracle will be able to enhance its foothold as well as performance in the cloud business, which is poised for strong growth in the years to come.
Oracle’s unparalleled service in the Retail Order Broker Cloud, Retail Xstore point of service and integrated suite of best-of-breed business applications are the key reasons behind this contract win. These services will aid Samsonite to acquire real-time inventory information as well as offer quality service level to achieve strong customer loyalty.
Oracle’s foothold in the European markets is expected to increase. It will emerge as a versatile competitor for its peers due the adoption of its services in the global luggage market. Moreover, growing adoption of Order Broker Cloud Service is expected to drive top-line growth.
Oracle Corporation Revenue (TTM)
Oracle is experiencing significant growth in the cloud business, which grew 60% over the prior-year period. Its Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) products are expected to grow strongly in the next few years as enterprises increasingly transition to the cloud.
Expanding Cloud Portfolio
According to an IDC market report, SaaS will remain the dominant cloud computing type, accounting for nearly two thirds of all public cloud spending in 2017 and roughly 60% in 2020.
To tap this massive opportunity, Oracle introduced a number of Cloud Platform services. These services will not only help personalize SaaS applications, which are currently in demand but also support easy migration of on-premise applications to Oracle Cloud.
Other than cloud computing, Oracle also derives its revenue streams from enterprise and database management systems (DBMS) software market. Moreover, the company is also active on the acquisition front, which continues to provide for the company’s expanding product portfolio.
Zacks Rank & Stocks to Consider
Oracle carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader technology sector are NetApp, Inc (NTAP - Free Report) , Applied Materials, Inc. (AMAT - Free Report) and Broadcom Limited (AVGO - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NetApp, Applied Materials and Broadcom have a long-term expected earnings growth rate of 11.34%, 12.67% and 13.75%, respectively.
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