Canaccord Genuity Lowers MicroStrategy Target Price, Maintains Buy Rating
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 24 2024
0mins
Source: Benzinga
- Canaccord Genuity's Target Price Revision: Canaccord Genuity revised MicroStrategy's target price from $2,047.00 to $1,826.00 while maintaining a buy rating.
- Optimism on Long-Term Prospects: Analysts are optimistic about MicroStrategy's long-term prospects, especially due to its strategic Bitcoin acquisition approach.
- MicroStrategy's Bitcoin Holdings: The company currently holds approximately 226,311 Bitcoin, valued at around $14.5 billion.
- Valuation Factors: The target price adjustment considers factors like Bitcoin price fluctuations and the premium of MicroStrategy's equity value relative to its Bitcoin holdings.
- Convertible Note Offerings: MicroStrategy executed convertible note offerings to purchase more Bitcoin, enhancing its balance sheet and maintaining a strong SOTP premium.
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Analyst Views on MSTR
Wall Street analysts forecast MSTR stock price to rise
14 Analyst Rating
12 Buy
2 Hold
0 Sell
Strong Buy
Current: 159.090
Low
229.00
Averages
453.17
High
705.00
Current: 159.090
Low
229.00
Averages
453.17
High
705.00
About MSTR
Strategy Inc. is a bitcoin treasury and business intelligence company. The Company provides cloud-native, artificial intelligence (AI)-powered enterprise analytics software to thousands of global customers. Its Software Business segment is engaged in the design, development, marketing, and sales of enterprise analytics software platform through cloud subscriptions and licensing arrangements and related services. Its Strategy ONE platform provides access to AI-powered workflows, unlimited data sources, cloud-native technologies, and performance to speed up time from data to action. Strategy One delivers visualization, reporting, and embedded analytics capabilities across retail, banking, technology, manufacturing, insurance, consulting, healthcare, public sector, and others. Its Strategy Mosaic is a universal intelligence layer that provides enterprises with consistent definitions and governance across data sources, regardless of where that data resides or which tools access it.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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