Oracle: Aggressively Chasing Cloud Growth [Seeking Alpha]
SailPoint Technologies Holdings, Inc. (SAIL)
Last sailpoint technologies holdings, inc. earnings: 2/24 04:15 pm
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Source: Seeking Alpha
Oracle: Aggressively Chasing Cloud GrowthSummarySince posting Q2 results that have largely missed Street expectations for cloud growth, Oracle shares have tanked and missed out on massive gains in the tech sector.The NASDAQ has touched new highs while Oracle is down nearly 10% from its pre-earnings peak.Recent news from the company reveals that the company is pushing heavily into SaaS growth, buying vertical SaaS company Aconex for $1.2 billion in December.Oracle has also announced its entry into the identity governance space, giving it access to a brand-new $8.8 billion market (as estimated by SailPoint, the leading competitor in the space that recently went public).As Oracle continues to hone in on its model of selling universal cloud credits, upsells will be increasingly more likely. Don't assume cloud growth is down for the count yet.
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