MicroStrategy (NASDAQ:MSTR) Price Target Raised to $450.00

MicroStrategy (NASDAQ:MSTR) had its target price upped by Benchmark from $300.00 to $450.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Benchmark currently has a buy rating on the software maker’s stock.

Other equities research analysts also recently issued reports about the stock. Sanford C. Bernstein lowered their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Barclays raised their price target on shares of MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Cantor Fitzgerald started coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price target on the stock. Maxim Group lifted their price objective on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, TD Cowen boosted their target price on MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $331.13.

MicroStrategy Stock Down 18.2 %

MSTR opened at $387.50 on Tuesday. The company has a 50 day moving average of $228.07 and a 200 day moving average of $173.86. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. MicroStrategy has a 12 month low of $43.87 and a 12 month high of $543.00. The company has a market cap of $78.52 billion, a PE ratio of -183.65 and a beta of 3.05.

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

Insiders Place Their Bets

In other news, CAO Jeanine Montgomery sold 56,250 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the transaction, the chief accounting officer now directly owns 5,670 shares of the company’s stock, valued at approximately $1,459,514.70. This trade represents a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Kang sold 5,700 shares of MicroStrategy stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total value of $1,465,755.00. Following the completion of the transaction, the chief financial officer now directly owns 12,080 shares in the company, valued at $3,106,372. This trade represents a 32.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock valued at $23,231,977 over the last 90 days. Insiders own 13.18% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

Several institutional investors have recently added to or reduced their stakes in MSTR. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in MicroStrategy in the second quarter worth $37,000. GAMMA Investing LLC raised its holdings in MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after purchasing an additional 8 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in MicroStrategy during the first quarter valued at $58,000. Signaturefd LLC grew its position in shares of MicroStrategy by 13.6% in the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock worth $69,000 after buying an additional 6 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of MicroStrategy in the 2nd quarter worth about $106,000. 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.