Canaccord Genuity Group Forecasts Strong Price Appreciation for MicroStrategy (NASDAQ:MSTR) Stock

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

Other analysts also recently issued reports about the company. BTIG Research lifted their target price on MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Barclays boosted their price objective on shares of MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Cantor Fitzgerald began coverage on shares of MicroStrategy in a research report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 target price on the stock. Maxim Group lifted their price target on shares of MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein reduced their price objective on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $479.25.

MicroStrategy Stock Performance

Shares of NASDAQ:MSTR opened at $388.84 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. MicroStrategy has a 12 month low of $43.87 and a 12 month high of $543.00. The company has a market capitalization of $78.79 billion, a price-to-earnings ratio of -184.55 and a beta of 3.05. The firm’s 50-day moving average is $248.63 and its 200 day moving average is $181.70.

MicroStrategy (NASDAQ:MSTR) last released its earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS 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 the consensus estimate of $121.45 million. During the same period in the prior year, the company posted ($8.98) EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year.

Insider Buying and Selling at MicroStrategy

In related news, CFO Andrew Kang sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total transaction of $1,465,755.00. Following the completion of the transaction, the chief financial officer now owns 12,080 shares in the company, valued at $3,106,372. The trade was a 32.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total transaction 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 approximately $1,459,514.70. This trade represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,000 shares of company stock valued at $32,259,177. 13.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MicroStrategy

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

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.