Citigroup keeps Buy on Oracle, sees $330 target

Oracle Corp (NYSE: ORCL ) shares are climbing Wednesday.

Citigroup argued the stock could more than double from current levels, pointing to a reset in investor expectations following a sharp summer sell-off.

Here’s what you should know.

Oracle stock is gaining positive traction.

What’s pushing ORCL stock higher? Citigroup Sees Massive Upside For Oracle Stock Citigroup analyst Tyler Radke on Wednesday stuck with his Buy call on Oracle while setting a $330 price target, suggesting the stock could more than double from current levels.

Radke described the stock’s recent slide as one of the most severe stretches of selling the company has endured, blaming a mix of panicked investors and mechanical selling pressure tied to credit markets and Oracle’s ongoing at-the-market stock sales, CNBC reported.

Radke argued the stock has significant room to recover as AI demand stays healthy and pricing data from neocloud providers gives analysts reason to raise estimates before Oracle’s late-October earnings call and investor day.

That bullish call follows a rough stretch for the stock.

Oracle shares have shed a quarter of their value over the past three months, Citigroup noted.

Much of that pain traced back to investor unease over Oracle’s growing debt load and a string of credit downgrades, layered on top of broader market skepticism about whether cloud companies can keep justifying their massive AI infrastructure spending.

Radke argued the worst of that pressure may now be in the past, pointing to signs that panic selling has largely subsided, forced selling has run its course, the company’s at-the-market program has likely wrapped up and bond and credit default swap pricing tied to Oracle has begun improving.

Oracle’s Chart Shows a Near-Term Bounce Within a Longer-Term Downtrend Oracle’s stock has climbed back above both its 20-day and 50-day moving averages, sitting more than 2% above the 20-day mark of $144.65 and about 3.5% above the 50-day level of $142.90, a setup that hints at a short-term uptrend trying to take hold again.

The bigger picture still looks shakier, though, with shares running about 10.2% below their 100-day average of $164.41 and around 14% under their 200-day average of $171.54.

Momentum readings offer a clearer signal than price alone.

The relative strength index sits at 52.68, squarely neutral territory that suggests the recent bounce hasn’t gotten overheated and still has runway if buying interest continues.

The moving-average setup remains mixed overall.

The 20-day average sitting above the 50-day average leans bullish in the near term, but a death cross from January, when the 50-day average fell below the 200-day, keeps the longer-term trend tilted bearish.

That combination tends to produce choppier rallies that need to clear fresh highs to gain real credibility.

Traders are watching $149 as resistance, a round-number pivot just above the current price where past rebounds have stalled, and $137 as support, a zone that held up as a recent buying area.

ORCL Shares Are Moving Higher ORCL Price Action: Oracle shares were up 2.33% at $148.19 at the time of publication on Wednesday, according to Pro.

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