TD Cowen Raises MicroStrategy (NASDAQ:MSTR) Price Target to $1,880.00

MicroStrategy (NASDAQ:MSTRFree Report) had its price objective raised by TD Cowen from $1,450.00 to $1,880.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other analysts have also commented on MSTR. StockNews.com raised shares of MicroStrategy to a sell rating in a research report on Monday, March 18th. Canaccord Genuity Group lifted their price target on shares of MicroStrategy from $1,590.00 to $2,047.00 and gave the company a buy rating in a research report on Wednesday, May 29th. Benchmark reaffirmed a buy rating and set a $1,875.00 price target on shares of MicroStrategy in a research report on Thursday, April 25th. BTIG Research lifted their price target on shares of MicroStrategy from $780.00 to $1,800.00 and gave the company a buy rating in a research report on Friday, April 5th. Finally, Sanford C. Bernstein raised MicroStrategy to a strong-buy rating in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MicroStrategy currently has a consensus rating of Moderate Buy and an average target price of $2,098.40.

Read Our Latest Report on MicroStrategy

MicroStrategy Trading Up 1.3 %

Shares of MicroStrategy stock opened at $1,483.76 on Friday. The stock has a market cap of $26.32 billion, a P/E ratio of -221.46 and a beta of 3.08. The stock’s 50 day simple moving average is $1,425.51 and its 200-day simple moving average is $1,098.41. MicroStrategy has a 1-year low of $301.08 and a 1-year high of $1,999.99. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.78 and a quick ratio of 0.78.

MicroStrategy (NASDAQ:MSTRGet Free Report) last released its quarterly earnings results on Monday, April 29th. The software maker reported ($8.26) EPS for the quarter. The firm had revenue of $115.25 million for the quarter, compared to analysts’ expectations of $124.80 million. MicroStrategy had a negative net margin of 17.40% and a negative return on equity of 8.37%.

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, Chairman Michael J. Saylor sold 1,140 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $1,951.33, for a total value of $2,224,516.20. Following the sale, the chairman now owns 1,140 shares of the company’s stock, valued at $2,224,516.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 41,996 shares of company stock valued at $61,475,247 over the last quarter. 13.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On MicroStrategy

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of MicroStrategy in the fourth quarter worth $70,990,000. Beacon Pointe Advisors LLC acquired a new position in shares of MicroStrategy in the fourth quarter worth $379,000. New York State Common Retirement Fund grew its stake in shares of MicroStrategy by 7.7% in the fourth quarter. New York State Common Retirement Fund now owns 5,121 shares of the software maker’s stock worth $3,235,000 after acquiring an additional 366 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of MicroStrategy by 23.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,636 shares of the software maker’s stock worth $1,665,000 after acquiring an additional 500 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of MicroStrategy by 90.0% in the fourth quarter. IFP Advisors Inc now owns 2,874 shares of the software maker’s stock worth $1,815,000 after acquiring an additional 1,361 shares in the last quarter. Institutional investors and hedge funds own 72.03% of the company’s stock.

About MicroStrategy

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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.

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