The Ratings Game: Oracle stock surges to record high on database license strength

Oracle Corp. shares rallied to close at a record high Thursday after the database giant showed signs of long-awaited growth in cloud-based services and analysts responded by boosting price targets on the stock.

Oracle ORCL, +8.18% shares closed up 8.2% at a record $56.99, beating out the previous record set on April 26 when they finished at $55.41. Shares also touched a record intraday high of $57.47. Thursday’s trade saw the stock’s best one-day percentage gain since Dec. 18, 2014, when shares rallied more than 10%.

Oracle shares are up 26% for the year, compared with an 18% gain for the S&P 500 index SPX, +0.95% and a 21% gain logged by the Nasdaq Composite Index COMP, +0.80%

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