MicroStrategy (NASDAQ:MSTR) Shares Gap Up to $1,606.47

MicroStrategy Incorporated (NASDAQ:MSTR) gapped up before the market opened on Friday . The stock had previously closed at $1,606.47, but opened at $1,700.00. MicroStrategy shares last traded at $1,740.00, with a volume of 240,590 shares.

Wall Street Analysts Forecast Growth

MSTR has been the subject of several research analyst reports. Canaccord Genuity Group reduced their price target on shares of MicroStrategy from $2,047.00 to $1,826.00 and set a “buy” rating for the company in a research report on Monday, June 24th. TD Cowen raised their price objective on MicroStrategy from $1,450.00 to $1,880.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Maxim Group upgraded shares of MicroStrategy to a “strong-buy” rating in a report on Thursday, June 27th. BTIG Research boosted their target price on shares of MicroStrategy from $780.00 to $1,800.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Benchmark reiterated a “buy” rating and issued a $1,875.00 price objective on shares of MicroStrategy in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $2,017.67.

MicroStrategy Stock Up 9.5 %

The business’s 50-day moving average is $1,533.78 and its 200-day moving average is $1,236.52. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $31.20 billion, a price-to-earnings ratio of -260.48 and a beta of 3.11.

Shares of MicroStrategy are scheduled to split on the morning of Thursday, August 8th. The 10-1 split was announced on Thursday, August 8th. The newly created shares will be payable to shareholders after the closing bell on Thursday, August 8th.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Monday, April 29th. The software maker reported ($8.26) earnings per share for the quarter. MicroStrategy had a negative net margin of 17.40% and a negative return on equity of 8.37%. The company had revenue of $115.25 million during the quarter, compared to analyst estimates of $124.80 million.

Hedge Funds Weigh In On MicroStrategy

Large investors have recently made changes to their positions in the company. Brookstone Capital Management bought a new stake in MicroStrategy during the 4th quarter worth about $216,000. Procyon Advisors LLC acquired a new position in MicroStrategy in the fourth quarter valued at approximately $275,000. Global Retirement Partners LLC bought a new position in MicroStrategy in the fourth quarter valued at approximately $219,000. Pinnacle Associates Ltd. grew its holdings in MicroStrategy by 5.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 2,907 shares of the software maker’s stock worth $1,836,000 after acquiring an additional 155 shares during the period. Finally, Realta Investment Advisors raised its position in shares of MicroStrategy by 5.7% during the 4th quarter. Realta Investment Advisors now owns 5,358 shares of the software maker’s stock valued at $3,384,000 after acquiring an additional 291 shares during the last quarter. 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.