Canaccord Genuity Group Cuts MicroStrategy (NASDAQ:MSTR) Price Target to $173.00

MicroStrategy (NASDAQ:MSTR) had its price target reduced by Canaccord Genuity Group from $185.00 to $173.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other equities research analysts have also recently commented on the company. Maxim Group boosted their price target on MicroStrategy from $183.50 to $193.00 and gave the company a buy rating in a research note on Friday, August 2nd. Benchmark upped their target price on MicroStrategy from $187.50 to $215.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Sanford C. Bernstein upgraded MicroStrategy to a strong-buy rating in a report on Friday, June 14th. Barclays began coverage on MicroStrategy in a report on Friday, September 6th. They set an overweight rating and a $146.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on MicroStrategy in a report on Wednesday, August 21st. They set an overweight rating and a $194.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $197.25.

MicroStrategy Trading Up 1.1 %

Shares of NASDAQ MSTR opened at $132.67 on Monday. The stock has a market cap of $23.53 billion, a price-to-earnings ratio of -19.87 and a beta of 3.10. The business has a 50 day simple moving average of $142.15 and a 200 day simple moving average of $144.70. MicroStrategy has a 52 week low of $30.71 and a 52 week high of $200.00. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.47.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.48). The firm had revenue of $111.44 million during the quarter, compared to the consensus estimate of $121.99 million. MicroStrategy had a negative net margin of 43.69% and a negative return on equity of 14.72%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS.

Insider Activity

In other news, CEO Phong Le sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total value of $6,914,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at $1,752,007.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Phong Le sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total value of $6,914,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at $1,752,007.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wei-Ming Shao sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the completion of the sale, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at $912,152. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,838 shares of company stock valued at $13,950,265. 13.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. ST Germain D J Co. Inc. bought a new position in MicroStrategy in the first quarter worth $29,000. Principal Securities Inc. bought a new position in MicroStrategy in the fourth quarter worth $31,000. Rise Advisors LLC lifted its position in MicroStrategy by 233.3% in the first quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock worth $34,000 after purchasing an additional 14 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in MicroStrategy in the second quarter worth $37,000. Finally, GAMMA Investing LLC lifted its position in MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after purchasing an additional 8 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.