MicroStrategy (NASDAQ:MSTR) Shares Gap Up Following Analyst Upgrade

by · The Cerbat Gem

MicroStrategy Incorporated (NASDAQ:MSTR – Get Free Report) gapped up before the market opened on Wednesday after Benchmark raised their price target on the stock from $300.00 to $450.00. The stock had previously closed at $430.54, but opened at $463.40. Benchmark currently has a buy rating on the stock. MicroStrategy shares last traded at $477.00, with a volume of 18,557,154 shares.

MSTR has been the subject of a number of other reports. Barclays increased their price target on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. TD Cowen increased their target price on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Maxim Group boosted their price target on shares of MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BTIG Research upped their price target on shares of MicroStrategy from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Canaccord Genuity Group lifted their price objective on MicroStrategy from $173.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $289.88.

View Our Latest Analysis on MicroStrategy

Insider Buying and Selling

In other news, CAO Jeanine Montgomery sold 752 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $322.45, for a total transaction of $242,482.40. Following the completion of the sale, the chief accounting officer now owns 6,418 shares in the company, valued at approximately $2,069,484.10. This represents a 10.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Phong Le sold 1,252 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $322.45, for a total value of $403,707.40. Following the transaction, the chief executive officer now directly owns 13,918 shares in the company, valued at approximately $4,487,859.10. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,000 shares of company stock worth $30,569,577. Corporate insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in MicroStrategy in the 1st quarter valued at $58,000. 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 last quarter. Edgestream Partners L.P. bought a new position in shares of MicroStrategy in the first quarter worth about $309,000. O Shaughnessy Asset Management LLC lifted its position in shares of MicroStrategy by 23.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 720 shares of the software maker’s stock worth $1,227,000 after purchasing an additional 136 shares during the last quarter. Finally, American International Group Inc. boosted its stake in MicroStrategy by 20.7% during the 1st quarter. American International Group Inc. now owns 7,326 shares of the software maker’s stock valued at $12,488,000 after purchasing an additional 1,254 shares during the period. Institutional investors own 72.03% of the company’s stock.

MicroStrategy Price Performance

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $216.04 and a 200-day simple moving average of $170.24. The stock has a market cap of $96.66 billion, a price-to-earnings ratio of -229.49 and a beta of 3.05.

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

About MicroStrategy

(Get Free Report)

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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