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

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

Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein reduced their price objective on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Barclays lifted their price objective on MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. BTIG Research lifted their price objective on MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Benchmark lifted their price objective on MicroStrategy from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, TD Cowen lifted their price objective on MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, MicroStrategy currently has an average rating of “Moderate Buy” and a consensus price target of $479.25.

MicroStrategy Price Performance

Shares of NASDAQ:MSTR opened at $403.45 on Monday. MicroStrategy has a 1-year low of $43.87 and a 1-year high of $543.00. 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 business has a fifty day moving average price of $239.06 and a 200-day moving average price of $178.58. The company has a market capitalization of $81.76 billion, a PE ratio of -191.48 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share 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 company had revenue of $116.07 million for the quarter, compared to the consensus estimate of $121.45 million. During the same quarter in the previous year, the business earned ($8.98) earnings per share. MicroStrategy’s revenue was down 10.3% compared to the same quarter last year.

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, EVP Wei-Ming Shao sold 18,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 6,460 shares in the company, valued at $2,377,344.60. The trade was a 73.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen X. Graham sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $451.36, for a total value of $9,027,200.00. Following the sale, the director now owns 6,970 shares of the company’s stock, valued at approximately $3,145,979.20. This represents a 74.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,000 shares of company stock worth $32,259,177 in the last three months. 13.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in shares of MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after buying an additional 6 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of MicroStrategy by 36.4% during the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after buying an additional 8 shares in the last quarter. Cigna Investments Inc. New lifted its position in shares of MicroStrategy by 5.1% during the 2nd quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock valued at $226,000 after buying an additional 8 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of MicroStrategy by 2.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock valued at $551,000 after buying an additional 11 shares in the last quarter. Finally, Dakota Wealth Management lifted its position in shares of MicroStrategy by 0.3% during the 2nd quarter. Dakota Wealth Management now owns 4,515 shares of the software maker’s stock valued at $6,219,000 after buying an additional 15 shares in the last quarter. 72.03% of the stock is owned by hedge funds and other institutional investors.

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.