MicroStrategy (NASDAQ:MSTR) Price Target Raised to $600.00

MicroStrategy (NASDAQ:MSTR) had its price objective lifted by Sanford C. Bernstein from $290.00 to $600.00 in a report issued on Monday,Benzinga reports. The firm currently has an outperform rating on the software maker’s stock.

MSTR has been the topic of a number of other research reports. BTIG Research lifted their price target on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Canaccord Genuity Group lifted their price target on MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a report on Monday. Benchmark lifted their price target on MicroStrategy from $300.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Barclays lifted their price objective on MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, TD Cowen lifted their price objective on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $479.25.

MicroStrategy Trading Up 9.9 %

NASDAQ MSTR opened at $388.84 on Monday. The firm’s 50 day moving average price is $248.63 and its two-hundred day moving average price is $181.70. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. MicroStrategy has a twelve month low of $43.87 and a twelve month high of $543.00. The stock has a market cap of $78.79 billion, a price-to-earnings ratio of -184.55 and a beta of 3.05.

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

Insiders Place Their Bets

In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the completion of the sale, the chief accounting officer now owns 5,670 shares of the company’s stock, valued at $1,459,514.70. The trade was a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Kang sold 5,700 shares of the business’s stock in a transaction dated 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 directly owns 12,080 shares of the company’s stock, valued at $3,106,372. This represents a 32.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock valued at $32,259,177 over the last quarter. Insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Large investors have recently made changes to their positions in the business. US Bancorp DE lifted its position in shares of MicroStrategy by 782.8% during the 3rd quarter. US Bancorp DE now owns 4,255 shares of the software maker’s stock worth $717,000 after purchasing an additional 3,773 shares during the last quarter. Hartline Investment Corp lifted its position in shares of MicroStrategy by 1,064.6% during the 3rd quarter. Hartline Investment Corp now owns 5,322 shares of the software maker’s stock worth $897,000 after purchasing an additional 4,865 shares during the last quarter. National Pension Service lifted its position in shares of MicroStrategy by 900.0% during the 3rd quarter. National Pension Service now owns 245,000 shares of the software maker’s stock worth $41,307,000 after purchasing an additional 220,500 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of MicroStrategy by 848.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 37,005 shares of the software maker’s stock worth $6,239,000 after purchasing an additional 33,105 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in MicroStrategy by 2,791.9% during the third quarter. EverSource Wealth Advisors LLC now owns 25,564 shares of the software maker’s stock valued at $4,310,000 after acquiring an additional 24,680 shares during the period. Institutional investors and hedge funds own 72.03% of the company’s stock.

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.