Benchmark Forecasts Strong Price Appreciation for MicroStrategy (NASDAQ:MSTR) Stock

MicroStrategy (NASDAQ:MSTR) had its target price hoisted by research analysts at Benchmark from $450.00 to $650.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Benchmark’s price objective would suggest a potential upside of 48.32% from the company’s current price.

A number of other brokerages also recently commented on MSTR. Sanford C. Bernstein upped their price objective on MicroStrategy from $290.00 to $600.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays lifted their price objective on shares of MicroStrategy from $275.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday. Canaccord Genuity Group raised their price target on shares of MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald assumed coverage on MicroStrategy in a research report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective for the company. Finally, TD Cowen lifted their target price on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $451.13.

MicroStrategy Stock Performance

Shares of MSTR opened at $438.25 on Monday. The stock has a market capitalization of $88.81 billion, a PE ratio of -208.00 and a beta of 3.05. The business’s fifty day moving average price is $233.68 and its 200 day moving average price is $176.63. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. MicroStrategy has a 12-month low of $43.87 and a 12-month high of $543.00.

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

Insider Activity

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

Institutional Investors Weigh In On MicroStrategy

Several hedge funds have recently modified their holdings of MSTR. Geode Capital Management LLC raised its holdings in MicroStrategy by 990.6% during the 3rd 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of MicroStrategy by 587.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock valued at $111,994,000 after acquiring an additional 567,628 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of MicroStrategy by 971.3% in 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 valued at $107,855,000 after acquiring an additional 579,994 shares in the last quarter. Swiss National Bank boosted its stake in MicroStrategy by 904.7% in the 3rd quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock worth $78,939,000 after purchasing an additional 421,600 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in MicroStrategy by 1,077.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock worth $57,857,000 after purchasing an additional 314,007 shares during the period. 72.03% of the stock is owned by hedge funds and other institutional investors.

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.