BTIG Research Raises MicroStrategy (NASDAQ:MSTR) Price Target to $240.00

MicroStrategy (NASDAQ:MSTR) had its price target boosted by equities researchers at BTIG Research from $180.00 to $240.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. BTIG Research’s price objective would suggest a potential upside of 12.13% from the stock’s current price.

MSTR has been the topic of a number of other reports. Sanford C. Bernstein decreased 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. TD Cowen upped their price objective on shares of MicroStrategy from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Maxim Group lifted their target price on shares of MicroStrategy from $183.50 to $193.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays boosted their price target on shares of MicroStrategy from $173.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Canaccord Genuity Group reduced their price objective on MicroStrategy from $185.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $220.00.

MicroStrategy Price Performance

MSTR traded down $1.82 on Monday, reaching $214.04. The company had a trading volume of 10,006,236 shares, compared to its average volume of 16,358,477. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.47. MicroStrategy has a 52-week low of $34.61 and a 52-week high of $227.15. The company has a market cap of $37.96 billion, a price-to-earnings ratio of -31.95 and a beta of 3.11. The business has a 50 day simple moving average of $151.88 and a 200 day simple moving average of $147.65.

MicroStrategy (NASDAQ:MSTR) last announced its earnings results on Thursday, August 1st. The software maker reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.48). MicroStrategy had a negative return on equity of 14.72% and a negative net margin of 43.69%. The company had revenue of $111.44 million during the quarter, compared to analysts’ expectations of $121.99 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm’s revenue was down 7.4% on a year-over-year basis.

Insider Activity

In related news, CEO Phong Le sold 48,838 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $135.40, for a total value of $6,612,665.20. Following the sale, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at $1,715,518. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Phong Le sold 48,838 shares of MicroStrategy stock in a transaction on Friday, August 16th. The shares were sold at an average price of $135.40, for a total value of $6,612,665.20. Following the sale, the chief executive officer now owns 12,670 shares in the company, valued at $1,715,518. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,838 shares of company stock valued at $13,950,265. Insiders own 13.18% of the company’s stock.

Institutional Trading of MicroStrategy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of MicroStrategy in the 2nd quarter worth approximately $37,000. GAMMA Investing LLC raised its holdings in MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after purchasing an additional 8 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in MicroStrategy during the first quarter valued at $55,000. Allspring Global Investments Holdings LLC bought a new stake in shares of MicroStrategy during the 1st quarter valued at $58,000. Finally, Webster Bank N. A. purchased a new stake in shares of MicroStrategy in the 1st quarter worth about $68,000. 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.