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

MicroStrategy (NASDAQ:MSTR) had its price target boosted by Sanford C. Bernstein from $290.00 to $600.00 in a research note released on Monday morning,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the software maker’s stock.

MSTR has been the subject of a number of other reports. Barclays raised their price objective on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Cantor Fitzgerald started coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective for the company. TD Cowen raised their price objective on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Benchmark raised their price objective on shares of MicroStrategy from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Maxim Group raised their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $479.25.

MicroStrategy Stock Performance

NASDAQ MSTR opened at $403.45 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $81.76 billion, a price-to-earnings ratio of -191.48 and a beta of 3.05. The company’s fifty day moving average is $239.06 and its two-hundred day moving average is $178.58. MicroStrategy has a 52-week low of $43.87 and a 52-week high of $543.00.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings results 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). The company had revenue of $116.07 million during the quarter, compared to analyst estimates of $121.45 million. MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($8.98) earnings per share.

Insider Activity at MicroStrategy

In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 5,670 shares of the company’s stock, valued at approximately $1,459,514.70. The trade was a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Kang sold 5,700 shares of the business’s stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock valued at $32,259,177 in the last ninety days. Insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

A number of institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its position in shares of MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock worth $69,000 after buying an additional 6 shares during the period. GAMMA Investing LLC grew its position in shares of MicroStrategy by 36.4% during the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after buying an additional 8 shares during the period. Cigna Investments Inc. New grew its position in shares of MicroStrategy by 5.1% during the 2nd quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock worth $226,000 after buying an additional 8 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of MicroStrategy by 2.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock worth $551,000 after buying an additional 11 shares during the period. Finally, Dakota Wealth Management grew its position in shares of MicroStrategy by 0.3% during the 2nd quarter. Dakota Wealth Management now owns 4,515 shares of the software maker’s stock worth $6,219,000 after buying an additional 15 shares during the period. 72.03% of the stock is owned by institutional investors.

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.