Sanford C. Bernstein Issues Positive Forecast for MicroStrategy (NASDAQ:MSTR) Stock Price

MicroStrategy (NASDAQ:MSTR) had its target price raised by Sanford C. Bernstein from $290.00 to $600.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 69.64% from the stock’s previous close.

Several other research firms have also issued reports on MSTR. Barclays increased their target price on MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Canaccord Genuity Group upped their price target on MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a report on Monday. Maxim Group increased their price objective on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald assumed coverage on MicroStrategy in a research note on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price target on the stock. Finally, TD Cowen raised their price target on MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MicroStrategy has an average rating of “Moderate Buy” and an average target price of $479.25.

MicroStrategy Stock Down 12.3 %

Shares of NASDAQ:MSTR opened at $353.69 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The business has a fifty day moving average of $239.06 and a two-hundred day moving average of $178.58. The stock has a market cap 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.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $121.45 million. During the same period last year, the company earned ($8.98) EPS. The business’s revenue for the quarter was down 10.3% on a year-over-year basis.

Insider Activity

In related news, EVP Wei-Ming Shao sold 18,000 shares of MicroStrategy stock in a transaction on 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 approximately $2,377,344.60. The trade was a 73.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 5,670 shares of the company’s stock, valued at $1,459,514.70. The trade was a 90.84 % 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 in the last three months. 13.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MicroStrategy

Hedge funds have recently bought and sold shares of the stock. Sei Investments Co. grew its position in shares of MicroStrategy by 36.3% in the first quarter. Sei Investments Co. now owns 575 shares of the software maker’s stock valued at $980,000 after purchasing an additional 153 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in MicroStrategy by 19.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,374 shares of the software maker’s stock valued at $2,343,000 after buying an additional 225 shares during the last quarter. Toronto Dominion Bank increased its holdings in MicroStrategy by 125.0% in the first quarter. Toronto Dominion Bank now owns 450 shares of the software maker’s stock valued at $767,000 after buying an additional 250 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MicroStrategy by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 88,762 shares of the software maker’s stock valued at $151,301,000 after buying an additional 10,835 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of MicroStrategy by 36.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,590 shares of the software maker’s stock valued at $2,710,000 after purchasing an additional 424 shares during the last quarter. Hedge funds and other institutional investors own 72.03% of the company’s stock.

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.