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

MicroStrategy (NASDAQ:MSTR) had its target price lifted by BTIG Research from $290.00 to $570.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other research firms have also commented on MSTR. TD Cowen raised their price objective 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. Benchmark boosted their target price on shares of MicroStrategy from $300.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays boosted their price objective on shares of MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Maxim Group raised their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein lowered their price objective 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 issued a buy rating to the stock. Based on data from MarketBeat.com, MicroStrategy currently has an average rating of “Moderate Buy” and a consensus target price of $331.13.

MicroStrategy Trading Up 6.2 %

Shares of MSTR opened at $421.88 on Thursday. MicroStrategy has a twelve month low of $43.87 and a twelve month 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 firm’s 50-day moving average is $233.68 and its two-hundred day moving average is $176.63. The firm has a market capitalization of $85.49 billion, a P/E ratio of -200.23 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings data 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 firm 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%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($8.98) earnings per share.

Insiders Place Their Bets

In other news, CFO Andrew Kang sold 5,700 shares of MicroStrategy stock in a transaction 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 transaction, the chief financial officer now owns 12,080 shares in the company, valued at approximately $3,106,372. This trade represents a 32.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Wei-Ming Shao sold 18,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total transaction of $6,624,180.00. Following the completion of the transaction, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at $2,377,344.60. This trade represents a 73.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,000 shares of company stock valued at $23,231,977. 13.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its position in MicroStrategy by 13.6% in the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after buying an additional 6 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of MicroStrategy by 36.4% in the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after buying an additional 8 shares during the last quarter. Cigna Investments Inc. New boosted its stake in shares of MicroStrategy by 5.1% in the 2nd quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock valued at $226,000 after purchasing an additional 8 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of MicroStrategy by 2.8% in the second quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock worth $551,000 after purchasing an additional 11 shares during the last quarter. Finally, Dakota Wealth Management increased its stake in shares of MicroStrategy by 0.3% during the second quarter. Dakota Wealth Management now owns 4,515 shares of the software maker’s stock valued at $6,219,000 after buying an additional 15 shares during the period. 72.03% of the stock is currently owned by institutional investors and hedge funds.

MicroStrategy Company Profile

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.