Oracle stock surged after the company reported first-quarter results that topped expectations, according to Benzinga. The results were driven by cloud and AI infrastructure growth and a record backlog of multi-billion-dollar contracts. Tigress Financial’s Ivan Feinseth said Oracle’s gains reflect strength in its own platform, noting most customers use multiple cloud providers. Piper Sandler’s Brent Bracelin raised his price target to $330 and highlighted Oracle’s backlog rising $317 billion in one quarter, with Recovery Point Objective up 359 year-over-year. Citizens JMP’s Patrick Walravens raised his forecast to $342 and cited major AI deals with OpenAI, xAI, Meta, Nvidia, and AMD, calling the results “spectacular.” Bank of America’s Brad Sills raised Oracle’s fiscal 2026 capex guidance to $35 billion, while noting uncertainty around ROI. He projected AI investments could deliver a low-50 topline return. Oracle stock jumped 28 in after-hours trading and is up nearly 45 year-to-date.