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Oracle shares surge 12% and head for record close

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Oracle stock spiked more than 12% during intraday trading on Tuesday and is on pace for a record close.

Oracle stock spiked more than 12% during intraday trading on Tuesday, moving toward a record day on the stock market after reporting fiscal third-quarter earnings that beat analysts' expectations.

Shares were trading at more than $127 midday on Tuesday, above a previous closing high of $126.71 set on Sept. 11, 2023. They're also on pace for the biggest gain since Dec. 10, 2021, when Oracle stock closed up 15.6%. Deutsche Bank lifted its price target on Oracle shares to $150 from $135, noting CEO Safra Catz reiterated fiscal 2026 guidance and strong cloud infrastructure results.

 

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