Canaccord Genuity Group Boosts MicroStrategy (NASDAQ:MSTR) Price Target to $510.00

MicroStrategy (NASDAQ:MSTR) had its price objective upped by investment analysts at Canaccord Genuity Group from $300.00 to $510.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 44.19% from the stock’s current price.

A number of other research analysts also recently commented on MSTR. BTIG Research increased their target price on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Benchmark increased their target price on MicroStrategy from $300.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. TD Cowen raised their price target on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein dropped their price objective on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Finally, Maxim Group boosted their target price on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $479.25.

MicroStrategy Price Performance

NASDAQ MSTR opened at $353.69 on Monday. The company has a 50-day moving average price of $239.06 and a 200-day moving average price of $178.58. The firm has a market capitalization of $71.67 billion, a P/E ratio of -167.63 and a beta of 3.05. MicroStrategy has a 52 week low of $43.87 and a 52 week high of $543.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12.

MicroStrategy (NASDAQ:MSTR) last released its 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). MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The firm had revenue of $116.07 million during the quarter, compared to analysts’ expectations of $121.45 million. During the same period in the prior year, the company posted ($8.98) earnings per share. The company’s revenue was down 10.3% compared to the same quarter last year.

Insider Transactions at MicroStrategy

In related news, CFO Andrew Kang sold 5,700 shares of the 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 completion of the transaction, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. This represents a 32.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeanine Montgomery sold 752 shares of the stock in a transaction 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 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 102,000 shares of company stock valued at $32,259,177 in the last three months. 13.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in MicroStrategy in the 2nd quarter valued at $37,000. GAMMA Investing LLC grew its holdings in MicroStrategy by 36.4% in the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after buying an additional 8 shares in the last quarter. Signaturefd LLC grew its holdings 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. Strategic Investment Solutions Inc. IL purchased a new stake in MicroStrategy in the 2nd quarter valued at $106,000. Finally, Larson Financial Group LLC grew its holdings in MicroStrategy by 72.3% in the 2nd quarter. Larson Financial Group LLC now owns 81 shares of the software maker’s stock valued at $112,000 after buying an additional 34 shares in the last quarter. 72.03% of the stock is owned by institutional investors and hedge funds.

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.