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

MicroStrategy (NASDAQ:MSTR) had its price objective hoisted by equities researchers at Canaccord Genuity Group from $300.00 to $510.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 20.89% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald began coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 target price on the stock. Maxim Group lifted their price objective on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. TD Cowen increased their price target 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. Barclays boosted their price target on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Benchmark boosted their price objective on MicroStrategy from $300.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, MicroStrategy currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.38.

MicroStrategy Stock Performance

NASDAQ:MSTR opened at $421.88 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $85.49 billion, a PE ratio of -200.23 and a beta of 3.05. MicroStrategy has a fifty-two week low of $43.87 and a fifty-two week high of $543.00. The company has a fifty day moving average of $233.68 and a two-hundred day moving average of $176.63.

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 analysts’ consensus estimates of ($0.12) by ($1.44). The company had revenue of $116.07 million during the quarter, compared to analysts’ expectations of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($8.98) earnings per share.

Insider Activity

In related news, CFO Andrew Kang sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total transaction of $1,465,755.00. Following the transaction, the chief financial officer now owns 12,080 shares in the company, valued at $3,106,372. This trade represents a 32.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total value 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 represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,000 shares of company stock worth $23,231,977. Corporate insiders own 13.18% of the company’s stock.

Institutional Trading of MicroStrategy

A number of hedge funds have recently added to or reduced their stakes in MSTR. UMB Bank n.a. lifted its holdings in shares of 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 purchasing an additional 135 shares during the period. AlphaMark Advisors LLC boosted its holdings in shares of MicroStrategy by 2,900.0% in the third quarter. AlphaMark Advisors LLC now owns 150 shares of the software maker’s stock valued at $25,000 after acquiring an additional 145 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in MicroStrategy during the third quarter worth about $27,000. Sunbelt Securities Inc. lifted its position in MicroStrategy by 900.0% in the third quarter. Sunbelt Securities Inc. now owns 160 shares of the software maker’s stock valued at $27,000 after purchasing an additional 144 shares during the period. Finally, ST Germain D J Co. Inc. boosted its holdings in MicroStrategy by 900.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 170 shares of the software maker’s stock valued at $29,000 after purchasing an additional 153 shares in the last quarter. 72.03% of the stock is owned by institutional investors and hedge funds.

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.