MicroStrategy (NASDAQ:MSTR) Price Target Raised to $700.00 at BTIG Research

Key Points

• BTIG Research raised its price target for MicroStrategy from $620.00 to $700.00, suggesting a potential upside of 88.84% from the current stock price, and maintaining a "buy" rating.
• The company's recent earnings report revealed an earnings per share (EPS) of (16.49), significantly missing consensus estimates, while quarterly revenue decreased by 3.6% year-over-year.
• Insider trading activity showed a significant decrease in shares owned by Director Carl J. Rickertsen, who sold 26,390 shares, while another director bought 10,000 shares during the same period.

MicroStrategy (NASDAQ:MSTR - Get Free Report) had its price target upped by equities research analysts at BTIG Research from $620.00 to $700.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. BTIG Research's target price would indicate a potential upside of 88.84% from the stock's current price.

MSTR has been the subject of several other research reports. TD Cowen upped their target price on MicroStrategy from $590.00 to $680.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Barclays reaffirmed a "hold" rating on shares of MicroStrategy in a research note on Monday, May 19th. Benchmark upped their target price on MicroStrategy from $650.00 to $705.00 and gave the stock a "buy" rating in a research note on Friday. Canaccord Genuity Group reiterated a "buy" rating on shares of MicroStrategy in a research report on Monday, May 19th. Finally, HC Wainwright began coverage on MicroStrategy in a research report on Tuesday, April 29th. They issued a "buy" rating and a $480.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $546.58.

MicroStrategy Price Performance

Shares of NASDAQ MSTR traded down $31.18 during midday trading on Friday, hitting $370.68. 13,437,435 shares of the company's stock were exchanged, compared to its average volume of 15,686,997. The company has a market cap of $101.35 billion, a price-to-earnings ratio of -17.05 and a beta of 3.70. The business's fifty day moving average price is $395.08 and its two-hundred day moving average price is $352.85. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.25. MicroStrategy has a 12-month low of $102.40 and a 12-month high of $543.00.

MicroStrategy (NASDAQ:MSTR - Get Free Report) last issued its earnings results on Thursday, May 1st. The software maker reported ($16.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($16.47). The firm had revenue of $111.07 million during the quarter, compared to analysts' expectations of $116.66 million. MicroStrategy had a negative return on equity of 37.64% and a negative net margin of 1,160.72%. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.83) EPS.

Insider Activity at MicroStrategy

In related news, Director Carl J. Rickertsen sold 26,390 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $372.40, for a total transaction of $9,827,636.00. Following the completion of the transaction, the director owned 980 shares in the company, valued at $364,952. This represents a 96.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jarrod M. Patten bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average price of $101.38 per share, with a total value of $1,013,800.00. Following the acquisition, the director owned 10,000 shares of the company's stock, valued at $1,013,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 268,132 shares of company stock valued at $24,169,295 and have sold 172,971 shares valued at $70,540,378. Insiders own 8.46% of the company's stock.

Hedge Funds Weigh In On MicroStrategy

Institutional investors have recently added to or reduced their stakes in the company. World Investment Advisors bought a new position in MicroStrategy in the fourth quarter worth $1,766,000. Aviva PLC raised its holdings in MicroStrategy by 51.2% in the fourth quarter. Aviva PLC now owns 94,953 shares of the software maker's stock worth $27,500,000 after purchasing an additional 32,171 shares in the last quarter. Sei Investments Co. raised its holdings in MicroStrategy by 39.3% in the fourth quarter. Sei Investments Co. now owns 11,972 shares of the software maker's stock worth $3,468,000 after purchasing an additional 3,376 shares in the last quarter. Hel Ved Capital Management Ltd bought a new position in MicroStrategy in the fourth quarter worth $2,495,000. Finally, Schroder Investment Management Group raised its holdings in MicroStrategy by 9.0% in the fourth quarter. Schroder Investment Management Group now owns 12,491 shares of the software maker's stock worth $3,784,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors own 59.84% of the company's stock.

About MicroStrategy

Strategy Incorporated, formerly known as MicroStrategy, provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers Strategy ONE, a platform that allows non-technical users to access novel and actionable insights for decision-making, and Strategy Cloud for Government, which provides always-on threat monitoring designed to meet the strict technical and regulatory standards of governments and financial institutions.

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