MicroStrategy (NASDAQ:MSTR) Price Target Raised to $300.00 at Canaccord Genuity Group

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

A number of other brokerages also recently commented on MSTR. Benchmark lifted their target price on shares of MicroStrategy from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday. 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 report on Thursday. Sanford C. Bernstein lowered their price objective on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Cantor Fitzgerald initiated coverage on MicroStrategy in a research report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 target price on the stock. Finally, Barclays upped their price target on MicroStrategy from $173.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $264.88.

MicroStrategy Price Performance

NASDAQ:MSTR opened at $229.71 on Thursday. MicroStrategy has a one year low of $42.40 and a one year high of $267.89. The stock has a market cap of $40.74 billion, a PE ratio of -109.02 and a beta of 3.05. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.65. The stock has a 50 day moving average price of $171.91 and a 200 day moving average price of $153.59.

MicroStrategy (NASDAQ:MSTR) last issued 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 during the quarter, compared to analyst estimates of $121.45 million. During the same period last year, the business earned ($8.98) earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year.

Insider Activity at MicroStrategy

In related news, CEO Phong Le sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,670 shares in the company, valued at $1,752,007.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Wei-Ming Shao sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total transaction of $423,600.00. Following the sale, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at $912,152. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Phong Le sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the sale, the chief executive officer now owns 12,670 shares in the company, valued at approximately $1,752,007.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,838 shares of company stock worth $13,950,265. 13.18% of the stock is currently owned by company insiders.

Institutional Trading of MicroStrategy

A number of large investors have recently modified their holdings of MSTR. PNC Financial Services Group Inc. grew its stake in MicroStrategy by 300.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 124 shares of the software maker’s stock worth $78,000 after purchasing an additional 93 shares in the last quarter. Diversified Trust Co purchased a new position in shares of MicroStrategy in the 1st quarter valued at about $655,000. Allspring Global Investments Holdings LLC acquired a new position in shares of MicroStrategy during the first quarter worth about $58,000. Kovack Advisors Inc. purchased a new stake in shares of MicroStrategy during the first quarter worth approximately $595,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of MicroStrategy during the first quarter worth approximately $377,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

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.