Canaccord Genuity Group Issues Positive Forecast for MicroStrategy (NASDAQ:MSTR) Stock Price

MicroStrategy (NASDAQ:MSTR) had its price objective upped by Canaccord Genuity Group from $173.00 to $300.00 in a research report released on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the software maker’s stock.

Several other equities analysts have also recently issued reports on MSTR. Benchmark lifted their price objective on MicroStrategy from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. Barclays raised their target price on shares of MicroStrategy from $173.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, October 14th. BTIG Research boosted their price target on shares of MicroStrategy from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, October 21st. TD Cowen raised their price objective on shares of MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a report on Thursday. Finally, Sanford C. Bernstein decreased their price objective on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. One research 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $264.88.

MicroStrategy Price Performance

MicroStrategy stock opened at $229.71 on Thursday. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. MicroStrategy has a 52-week low of $42.40 and a 52-week high of $267.89. The firm has a market cap of $40.74 billion, a PE ratio of -109.02 and a beta of 3.05. The company’s 50 day moving average is $171.91 and its two-hundred day moving average is $153.79.

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

Insider Activity at MicroStrategy

In related news, EVP Wei-Ming Shao sold 3,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the completion of the sale, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at $912,152. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Phong Le sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total value of $6,914,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at $1,752,007.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wei-Ming Shao sold 3,000 shares of MicroStrategy stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $141.20, for a total value of $423,600.00. Following the transaction, the executive vice president now directly owns 6,460 shares in the company, valued at approximately $912,152. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,838 shares of company stock valued at $13,950,265 in the last ninety days. Insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Hedge funds have recently modified their holdings of the business. Capital International Investors raised its position in MicroStrategy by 14.9% in the 1st quarter. Capital International Investors now owns 1,791,564 shares of the software maker’s stock valued at $3,053,828,000 after purchasing an additional 232,667 shares during the last quarter. Vanguard Group Inc. increased its stake in MicroStrategy by 34.8% in the first quarter. Vanguard Group Inc. now owns 1,553,048 shares of the software maker’s stock valued at $2,647,263,000 after purchasing an additional 401,071 shares during the period. National Pension Service raised its holdings in shares of MicroStrategy by 900.0% in the third quarter. National Pension Service now owns 245,000 shares of the software maker’s stock valued at $41,307,000 after buying an additional 220,500 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of MicroStrategy by 224,965.1% during the third quarter. International Assets Investment Management LLC now owns 238,569 shares of the software maker’s stock worth $40,223,000 after buying an additional 238,463 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in shares of MicroStrategy by 827.3% during the third quarter. Commonwealth Equity Services LLC now owns 225,531 shares of the software maker’s stock worth $38,025,000 after buying an additional 201,210 shares during the last quarter. 72.03% of the stock is currently owned by hedge funds and other institutional investors.

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.