These Analysts Boost Their Forecasts On MicroStrategy Following Q2 Results
MicroStrategy Inc (MSTR) reported strong Q2 results with revenue of $114.49 million, surpassing estimates. Adjusted earnings were $32.52 per share. Following the earnings announcement, analysts adjusted their price targets: Cantor Fitzgerald raised it to $697, Benchmark to $705, and BTIG to $700, all maintaining positive ratings. Despite the positive outlook, MicroStrategy shares fell 7.6% to $371.49.
MicroStrategy Inc MSTR reported upbeat sales for the second quarter on Thursday.
Strategy reported second-quarter revenue of $114.49 million, beating analyst estimates of $112.96 million. The company reported second-quarter adjusted earnings of $32.52 per share, according to Benzinga Pro.
"With the July IPO of STRC, we introduced the world's first Treasury Preferred Stock — a variable-rate, monthly dividend security engineered for price stability and designed to deliver short-duration, high-yield to a new class of investors," said Michael Saylor, executive chairman of Strategy.
MicroStrategy shares fell 7.6% to trade at $371.49 on Friday.
These analysts made changes to their price targets on MicroStrategy following earnings announcement.
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- Cantor Fitzgerald analyst Brett Knoblauch maintained Strategy with an Overweight rating and raised the price target from $680 to $697.
- Benchmark analyst Mark Palmer maintained Strategy with a Buy and raised the price target from $650 to $705.
- BTIG analyst Andrew Harte maintained the stock with a Buy and boosted the price target from $620 to $700.
Considering buying MSTR stock? Here’s what analysts think:
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