MicroStrategy (NASDAQ:MSTR) Price Target Raised to $570.00

MicroStrategy (NASDAQ:MSTR) had its price target upped by BTIG Research from $290.00 to $570.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. BTIG Research’s price target indicates a potential upside of 35.11% from the stock’s current price.

MSTR has been the subject of several other reports. TD Cowen lifted their price target on shares of MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Maxim Group boosted their target price on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays increased their price target on MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Cantor Fitzgerald began coverage on MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective for the company. Finally, Sanford C. Bernstein cut their target price on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.13.

MicroStrategy Stock Performance

MSTR stock opened at $421.88 on Thursday. MicroStrategy has a 1-year low of $43.87 and a 1-year high of $543.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average price of $233.68 and a 200-day moving average price of $175.91. The firm has a market cap of $85.49 billion, a PE ratio of -199.94 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($1.44). The business had revenue of $116.07 million during the quarter, compared to analyst estimates of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. MicroStrategy’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted ($8.98) earnings per share.

Insider Buying and Selling

In related news, CAO Jeanine Montgomery sold 752 shares of MicroStrategy stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $322.45, for a total value of $242,482.40. Following the completion of the transaction, the chief accounting officer now directly owns 6,418 shares in the company, valued at approximately $2,069,484.10. The trade was a 10.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Phong Le sold 1,252 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $322.45, for a total transaction of $403,707.40. Following the sale, the chief executive officer now directly owns 13,918 shares in the company, valued at $4,487,859.10. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock valued at $23,231,977. 13.18% of the stock is owned by insiders.

Institutional Trading of MicroStrategy

A number of institutional investors have recently added to or reduced their stakes in MSTR. Geode Capital Management LLC lifted its holdings in shares of MicroStrategy by 990.6% in the third quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock worth $465,573,000 after buying an additional 2,512,645 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in MicroStrategy by 971.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker’s stock worth $107,855,000 after acquiring an additional 579,994 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in MicroStrategy by 587.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock worth $111,994,000 after purchasing an additional 567,628 shares in the last quarter. Swiss National Bank boosted its holdings in MicroStrategy by 904.7% in the 3rd quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock valued at $78,939,000 after purchasing an additional 421,600 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of MicroStrategy by 1,077.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock valued at $57,857,000 after purchasing an additional 314,007 shares in the last quarter. Hedge funds and other institutional investors own 72.03% of the company’s stock.

About MicroStrategy

MicroStrategy Incorporated provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy ONE, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making; and MicroStrategy Cloud for Government service, which offers always-on threat monitoring that meets the rigorous technical and regulatory needs of governments and financial institutions.