A day after Oracle (ORCL) reported disappointing sales but remained upbeat on its cloud business, investors and analysts seem to be cheering.

Shares of the software maker were up more than 2% to $33 on Friday morning and Oracle was met with a slew of positive notes from analysts.

Barclays (BCS) raised its price target on Oracle by a dollar to $38, while J.P. Morgan (JPM) lifted its outlook on the tech company’s share price to $40 from $38, both on “overweight” ratings.

Canaccord Genuity, Nomura, Stifel, ThinkEquity and UBS (UBS) also all raised their price targets on Oracle.

The Redwood City, Calif.-based company posted first-quarter earnings of $2.03 billion, or 41 cents, but it matched average analyst estimates’ of 53 cents when excluding special items.

Oracle was upbeat on its new cloud business and said the business is approaching a $1 billion annual run rate. The software maker, which launched its cloud software service in June, plans to announce new enhancements to Oracle Cloud next week.

Follow Jennifer Booton on Twitter at @Jbooton