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

MicroStrategy (NASDAQ:MSTR) had its price target increased by Canaccord Genuity Group from $300.00 to $510.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other brokerages have also recently weighed in on MSTR. TD Cowen boosted their price objective on MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Benchmark increased 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. Cantor Fitzgerald began coverage on MicroStrategy in a research report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price target for the company. BTIG Research boosted their price objective on shares of MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Sanford C. Bernstein lowered their target price on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, MicroStrategy has an average rating of “Moderate Buy” and an average target price of $479.25.

MicroStrategy Stock Up 9.9 %

Shares of MSTR opened at $388.84 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $78.79 billion, a price-to-earnings ratio of -184.55 and a beta of 3.05. MicroStrategy has a 1 year low of $43.87 and a 1 year high of $543.00. The business’s 50 day simple moving average is $243.51 and its 200-day simple moving average is $180.24.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $121.45 million. During the same quarter last year, the business earned ($8.98) EPS. MicroStrategy’s revenue for the quarter was down 10.3% compared to the same quarter last year.

Insider Activity at MicroStrategy

In other MicroStrategy news, EVP Wei-Ming Shao sold 18,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total value of $6,624,180.00. Following the completion of the sale, the executive vice president now directly owns 6,460 shares in the company, valued at approximately $2,377,344.60. This represents a 73.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jeanine Montgomery sold 752 shares of MicroStrategy stock in a transaction dated 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 sale, the chief accounting officer now owns 6,418 shares of the company’s stock, valued at $2,069,484.10. The trade was a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock worth $32,259,177 in the last 90 days. 13.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MicroStrategy

Several large investors have recently modified their holdings of MSTR. UMB Bank n.a. lifted its holdings in MicroStrategy by 900.0% during the third quarter. UMB Bank n.a. now owns 150 shares of the software maker’s stock worth $25,000 after buying an additional 135 shares during the period. AlphaMark Advisors LLC raised its position in shares of MicroStrategy by 2,900.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 150 shares of the software maker’s stock worth $25,000 after acquiring an additional 145 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in MicroStrategy during the third quarter valued at about $27,000. Sunbelt Securities Inc. raised its holdings in MicroStrategy by 900.0% in the third quarter. Sunbelt Securities Inc. now owns 160 shares of the software maker’s stock worth $27,000 after purchasing an additional 144 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its position in shares of MicroStrategy by 900.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 170 shares of the software maker’s stock worth $29,000 after buying an additional 153 shares during the last quarter. Institutional investors 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.