Sanford C. Bernstein Issues Positive Forecast for MicroStrategy (NASDAQ:MSTR) Stock Price

MicroStrategy (NASDAQ:MSTR) had its price target hoisted by analysts at Sanford C. Bernstein from $290.00 to $600.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 36.46% from the company’s current price.

A number of other research analysts have also issued reports on the company. Maxim Group boosted their price objective on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. TD Cowen raised their target price on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Benchmark boosted 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. Cantor Fitzgerald started coverage on MicroStrategy in a research note on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price target for the company. Finally, Barclays lifted their price objective on shares of MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $396.13.

MicroStrategy Stock Performance

MicroStrategy stock opened at $439.69 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. MicroStrategy has a one year low of $43.87 and a one year high of $543.00. The stock’s 50 day moving average price is $233.68 and its 200 day moving average price is $176.63. The firm has a market capitalization of $89.10 billion, a PE ratio of -208.68 and a beta of 3.05.

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

Insider Transactions at MicroStrategy

In related news, CAO Jeanine Montgomery sold 56,250 shares of the firm’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 transaction of $14,479,312.50. Following the completion of the sale, the chief accounting officer now directly owns 5,670 shares in the company, valued at approximately $1,459,514.70. This trade represents a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Phong Le sold 1,252 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $322.45, for a total value of $403,707.40. Following the completion of the transaction, the chief executive officer now directly owns 13,918 shares in the company, valued at $4,487,859.10. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,000 shares of company stock valued at $23,231,977. Corporate insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC raised its holdings in MicroStrategy by 10,398.4% during 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 increased its position in shares of MicroStrategy by 1,063.6% in the third quarter. Arete Wealth Advisors LLC now owns 10,740 shares of the software maker’s stock worth $1,814,000 after acquiring an additional 9,817 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of MicroStrategy by 900.0% in 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 in the last quarter. Toronto Dominion Bank raised its holdings in shares of MicroStrategy by 881.6% during the third quarter. Toronto Dominion Bank now owns 19,809 shares of the software maker’s stock valued at $3,340,000 after acquiring an additional 17,791 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in shares of MicroStrategy by 353.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,349 shares of the software maker’s stock valued at $439,000 after acquiring an additional 1,831 shares in the last quarter. Institutional investors and hedge funds 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.