AUSTIN, Texas - Oracle has unveiled significant artificial intelligence (AI) enhancements to its Oracle Application Express (APEX) platform, aiming to simplify the development process for its users. The latest release introduces the APEX AI Assistant, which allows developers to build applications using natural language prompts to generate SQL statements and automate debugging.
The new AI capabilities are designed to accelerate application development, enabling the creation of feature-rich, mission-critical applications more efficiently. Oracle emphasizes that the APEX platform's declarative development approach can lead to a 20-fold increase in development speed and a 100-fold reduction in code compared to traditional methods.
Mike Hichwa, Oracle's senior vice president of software development, highlighted the benefits of the APEX AI Assistant, noting its ability to interpret natural language and generate complex SQL syntax, thereby simplifying the development process for everyday tasks.
The press release also showcases how companies like Trailcon and Natcorp have successfully leveraged Oracle APEX to improve their operations. Trailcon has developed an application that processes thousands of invoices with high accuracy, while Natcorp has enhanced its HR management solutions, allowing users to obtain information swiftly through AI-driven queries.
Oracle APEX, included with all Oracle Database services such as Oracle Autonomous Database, is touted for delivering robust application performance, security, and scalability. With the integration of AI Vector Search in Oracle Database 23ai, APEX now offers developers the ability to combine semantic searches with private business data queries.
Industry analysts have praised Oracle's latest advancements, with Ron Westfall of The Futurum Group commending Oracle APEX 24.1 for enabling developers to create hardened, mission-critical applications with ease.
The APEX AI Assistant, along with other AI enhancements like the Create App Assistant and Conversational AI dialogs, are available in the new version of Oracle APEX starting today. These enhancements will be showcased at the upcoming APEX Conference at ODTUG Kscope24, scheduled for July 14-18 in Nashville, TN.
This article is based on a press release statement from Oracle.
In other recent news, Oracle Corporation (NYSE:ORCL) has been the subject of several target price revisions by major analyst firms, reflecting the company's strong performance in cloud infrastructure and AI bookings. BMO (TSX:BMO) Capital Markets raised its price target for Oracle to $160, maintaining a Market Perform rating, while Mizuho increased its target to $170, reiterating a Buy rating. These adjustments are largely due to Oracle's robust performance in AI bookings and cloud infrastructure, including a significant agreement with OpenAI.
Deutsche Bank (ETR:DBKGn) also maintained a Buy rating on Oracle, raising the shares target to $165, adjusting the company's revenue estimates for fiscal years 2025 and 2026 to $57.7 billion and $64.5 billion, respectively. Citi, on the other hand, raised its price target for Oracle to $140, maintaining a Neutral rating. This adjustment followed Oracle's securing of key AI training contracts, which helped compensate for a broad-based revenue shortfall.
Piper Sandler increased the price target for Oracle to $150, maintaining an Overweight rating, following Oracle's announcement of $12.5 billion in new AI contracts. These new contracts account for approximately 17% of Oracle's total Remaining Performance Obligations (RPO) and over 70% of the new backlog build during the fourth quarter alone. Oracle's cloud revenue, including Software as a Service (SaaS) and Infrastructure as a Service (IaaS), rose by 23% to $4.7 billion in Q4 of fiscal year 2024.
These recent developments underscore Oracle's successful pivot towards cloud-based services and AI development. The company's strategic partnerships and robust financial performance have instilled confidence among several analyst firms about Oracle's future growth prospects.
InvestingPro Insights
Oracle Corporation (NYSE: ORCL) has been making notable strides in the technology sector, particularly with the recent enhancements to its Oracle Application Express (APEX) platform. As investors consider the potential of Oracle's stock, InvestingPro data and tips provide valuable insights into the company's financial health and market performance.
InvestingPro Data highlights Oracle's robust market position with a substantial market capitalization of $382.92 billion. The company's P/E ratio stands at 36.5, which reflects a premium valuation compared to the industry average. This high valuation is further supported by a Price / Book ratio of 41.48, indicating that investors are willing to pay a higher price for each dollar of book value.
Furthermore, Oracle has demonstrated consistent growth with a revenue increase of 6.02% over the last twelve months as of Q1 2023. This growth trajectory is complemented by a solid gross profit margin of 71.41%, showcasing the company's ability to maintain profitability amidst its expansion efforts.
InvestingPro Tips reveal that Oracle has been a reliable dividend payer, having raised its dividend for 10 consecutive years, which could be a compelling factor for income-focused investors. Additionally, the fact that 12 analysts have revised their earnings upwards for the upcoming period suggests a positive outlook on the company's financial performance.
Oracle's commitment to innovation, as evidenced by the latest AI capabilities in its APEX platform, positions the company as a prominent player in the software industry. With the ability to create applications more efficiently, Oracle is poised to maintain its competitive edge and continue attracting developer interest.
For investors seeking further insights and tips, InvestingPro offers additional information on Oracle, which can be accessed at https://www.investing.com/pro/ORCL. Moreover, users can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable data and analysis to inform their investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.