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

MicroStrategy (NASDAQ:MSTR) had its price objective increased by research analysts at Canaccord Genuity Group from $300.00 to $510.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 20.89% from the company’s current price.

Other analysts also recently issued research reports about the stock. Barclays upped their price target on shares of MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a report on Monday, November 4th. TD Cowen upped their target price on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Benchmark raised their price target on MicroStrategy from $300.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Sanford C. Bernstein cut their price target on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Finally, Maxim Group increased 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. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $357.38.

MicroStrategy Stock Up 6.2 %

Shares of NASDAQ MSTR opened at $421.88 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average price of $233.68 and a 200 day moving average price of $176.63. MicroStrategy has a 52 week low of $43.87 and a 52 week high of $543.00. The stock has a market capitalization of $85.49 billion, a price-to-earnings ratio of -200.23 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings data 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). The firm 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 business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the business earned ($8.98) earnings per share.

Insider Transactions at MicroStrategy

In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the sale, the chief accounting officer now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Kang sold 5,700 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. This represents a 32.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $23,231,977 over the last quarter. 13.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MicroStrategy

A number of hedge funds have recently made changes to their positions in MSTR. Virtu Financial LLC raised its position in shares of MicroStrategy by 10,398.4% in the 3rd quarter. Virtu Financial LLC now owns 224,245 shares of the software maker’s stock worth $37,808,000 after buying an additional 222,109 shares during the period. Arete Wealth Advisors LLC grew its position in MicroStrategy by 1,063.6% during the third quarter. Arete Wealth Advisors LLC now owns 10,740 shares of the software maker’s stock valued at $1,814,000 after acquiring an additional 9,817 shares during the period. Sunbelt Securities Inc. increased its stake in MicroStrategy by 900.0% during the third quarter. Sunbelt Securities Inc. now owns 160 shares of the software maker’s stock worth $27,000 after acquiring an additional 144 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of MicroStrategy by 881.6% in the 3rd quarter. Toronto Dominion Bank now owns 19,809 shares of the software maker’s stock worth $3,340,000 after purchasing an additional 17,791 shares during the period. Finally, Coldstream Capital Management Inc. grew its holdings in shares of MicroStrategy by 353.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,349 shares of the software maker’s stock worth $439,000 after purchasing an additional 1,831 shares during the period. Institutional investors and hedge funds own 72.03% of the company’s stock.

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.