Just caught that Oppenheimer upgraded Oracle recently - they moved ORCL from Perform to Outperform back in late February. The analyst price target is sitting at $286, which implies almost 96% upside from where the stock was trading at that time. Pretty bold call, though forecasts are all over the place ranging from $156 to $420.

What's interesting is the fund positioning. There are about 4,700 institutions holding ORCL positions, though that's actually down from last quarter. But the ones holding it seem to be doubling down - Vanguard's index funds both increased their allocations by over 40% in the past few months. JPMorgan trimmed theirs though, cutting their stake by about 20%.

The put/call ratio is at 0.88, which traders typically read as bullish sentiment. Revenue projections show a slight dip of around 2.76%, and EPS estimates are down a bit too at 7.35. So Oppenheimer's upgrade seems to be betting on something beyond just near-term numbers. Worth keeping on the radar if you're looking at enterprise software plays.