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Oracle's quarterly results may prompt a surge that makes its stock worth owning, some CNBC "Fast Money" traders said.
The computer technology company on Tuesday met Wall Street expectations for quarterly earnings but missed slightly on revenue. Growth in some areas—including its cloud computing business—pushed Oracle stock nearly 2 percent higher, above $43 per share, in extended trading.
"Don't let the cloud business and the excitement there mask the rest of their business, which is growing," said trader Tim Seymour.
The stock could prove a solid buy if it slips to around $41 per share, he said. He noted, though, that "the upside is limited."
Trader Guy Adami added that Oracle could flirt with a 52-week high, just below $47 per share, which it hit in late December.
Oracle competitor Salesforce.com provides "a more direct way" to buy into the cloud space, trader Steve Grasso said. The stock closed nearly 2 percent higher on Tuesday.
"[Salesforce] definitely sets up technically to be bought," Grasso said.
Adobe Systems, another tech name reporting quarterly results on Tuesday, slid nearly 4 percent lower in extended trading on weaker-than-expected subscription growth.
Investors can shed the stock at its current price as it flirted with a 52-week high heading into earnings, Seymour said.
Tim Seymour is long T, BAC, C, DIS, XOM, F, GE, GM, GOOGL, INTC and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SINA, SBUX, SUNE and WB.
Steve Grasso is long BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, PFE, POT, SO, T, TMUS and TWTR. His firm is long IBM, NE, NEM, OXY, RIG, VALE, AVP and AMZN. His kids are long EFG, EFA, EWJ, IJR and SPY.
Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short DIA. Her firm is long AAPL, BAC, C, CMLS, DIS, FINL, FBT, FL, GOOG, GOOGL, IBB, JPM, M, KORS, XBI, SUNE and URI. Her firm is long calls URI. Her firm is short MOY, IWM, SPY and USO. Karen Finerman is on the board of GrafTech International.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.