Oracle Cloud Infrastructure Gains Momentum With CMS Selection

Oracle Corporation (NYSE:ORCL) is among the most profitable software stocks to buy now. On February 11, Oracle Corporation (NYSE:ORCL) announced that the Centers for Medicare & Medicaid Services (CMS) has chosen the company’s Oracle Cloud Infrastructure (OCI) to help consolidate and migrate selected on-premises workloads to the cloud. This supports the federal health agency’s modernization initiative. That said, the company will provide infrastructure for CMS mission-critical systems using its FedRAMP High-authorized environment.

As stated by Kim Lynch, Executive Vice President of Government, Intelligence, and Defense at Oracle Corporation (NYSE:ORCL),

“CMS’ programs are vital to the wellbeing of many Americans, a responsibility that demands uncompromising security, reliability, and fiscal stewardship.”

Previously, on February 9, Melius Research downgraded Oracle Corporation (NYSE:ORCL) to Hold from Buy and maintained a $160 price target, which is slightly above the stock’s current price. Amid intensifying AI competition in the enterprise software market, Melius highlighted that the company “doesn’t generate cash and there is no guarantee that OpenAI beats Anthropic and Google.”

Oracle Corporation (NYSE:ORCL) is a Texas-based company that provides solutions for enterprise information technology environments. Incorporated in 1977, the company offers Oracle Cloud SaaS, Oracle Health applications, Oracle Cloud and on-premises licenses, and Oracle license support services.