These Analysts Boost Their Forecasts On MicroStrategy Following Q2 Results

MicroStrategy Inc (NASDAQ: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.

• 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:

Read This Next:

• Wall Street’s Most Accurate Analysts Weigh In On 3 Health Care Stocks With Over 3% Dividend Yields

Photo via Shutterstock