MicroStrategy (NASDAQ:MSTR) Price Target Raised to $2,150.00

MicroStrategy (NASDAQ:MSTR) had its price objective lifted by Benchmark from $1,875.00 to $2,150.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Other analysts have also issued reports about the stock. Canaccord Genuity Group cut their target price on shares of MicroStrategy from $2,047.00 to $1,826.00 and set a buy rating on the stock in a research note on Monday, June 24th. Maxim Group upgraded shares of MicroStrategy to a strong-buy rating in a research note on Thursday, June 27th. TD Cowen upped their target price on shares of MicroStrategy from $1,450.00 to $1,880.00 and gave the stock a buy rating in a research note on Friday, June 21st. Sanford C. Bernstein upgraded shares of MicroStrategy to a strong-buy rating in a research note on Friday, June 14th. Finally, BTIG Research upped their target price on shares of MicroStrategy from $780.00 to $1,800.00 and gave the stock a buy rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $2,079.33.

MicroStrategy Stock Up 5.2 %

Shares of MSTR traded up $68.27 during mid-day trading on Friday, hitting $1,377.27. 1,025,034 shares of the company’s stock were exchanged, compared to its average volume of 1,767,752. The company has a market cap of $24.43 billion, a price-to-earnings ratio of -205.56 and a beta of 3.11. MicroStrategy has a fifty-two week low of $307.11 and a fifty-two week high of $1,999.99. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day moving average is $1,521.72 and its 200-day moving average is $1,297.66.

MicroStrategy shares are set to split on the morning of Thursday, August 8th. The 10-1 split was announced on Thursday, August 8th. The newly minted shares will be distributed to shareholders after the closing bell on Thursday, August 8th.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported ($5.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($4.81). The business had revenue of $111.44 million for the quarter, compared to analyst estimates of $121.99 million. MicroStrategy had a negative return on equity of 16.83% and a negative net margin of 43.69%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.52 EPS.

Hedge Funds Weigh In On MicroStrategy

Several hedge funds have recently added to or reduced their stakes in MSTR. ST Germain D J Co. Inc. purchased a new position in MicroStrategy in the first quarter valued at approximately $29,000. Principal Securities Inc. acquired a new stake in shares of MicroStrategy in the fourth quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of MicroStrategy by 307.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 53 shares of the software maker’s stock valued at $33,000 after acquiring an additional 40 shares during the period. Rise Advisors LLC boosted its holdings in shares of MicroStrategy by 233.3% in the first quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock valued at $34,000 after acquiring an additional 14 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of MicroStrategy in the second quarter valued at approximately $37,000. 72.03% of the stock is currently 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.