Jefferies Financial Group Brokers Reduce Earnings Estimates for MicroStrategy Incorporated (NASDAQ:MSTR)
MicroStrategy Incorporated (NASDAQ:MSTR – Get Rating) – Research analysts at Jefferies Financial Group dropped their Q3 2023 earnings per share estimates for shares of MicroStrategy in a report issued on Sunday, May 22nd. Jefferies Financial Group analyst B. Thill now forecasts that the software maker will earn $1.18 per share for the quarter, down from their previous estimate of $1.19. Jefferies Financial Group also issued estimates for MicroStrategy’s Q4 2023 earnings at $1.14 EPS, FY2023 earnings at $3.58 EPS, Q1 2024 earnings at $0.99 EPS and FY2024 earnings at $3.97 EPS.
A number of other equities analysts have also issued reports on MSTR. Zacks Investment Research lowered shares of MicroStrategy from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 30th. TheStreet lowered shares of MicroStrategy from a “c-” rating to a “d+” rating in a research report on Monday, May 9th. Canaccord Genuity Group dropped their target price on shares of MicroStrategy from $540.00 to $453.00 in a research report on Wednesday, May 4th. Finally, StockNews.com raised shares of MicroStrategy to a “sell” rating in a research report on Thursday, May 12th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, MicroStrategy presently has an average rating of “Hold” and an average target price of $561.14.
Shares of MicroStrategy stock opened at $204.37 on Tuesday. The firm has a fifty day simple moving average of $385.25 and a 200-day simple moving average of $477.58. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.74. MicroStrategy has a 1-year low of $134.09 and a 1-year high of $891.38. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -3.76 and a beta of 1.72.
MicroStrategy (NASDAQ:MSTR – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The software maker reported ($10.42) earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($11.92). MicroStrategy had a negative return on equity of 30.40% and a negative net margin of 109.68%. The firm had revenue of $119.28 million during the quarter, compared to analyst estimates of $126.23 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. MicroStrategy’s quarterly revenue was down 2.9% compared to the same quarter last year.
In other MicroStrategy news, Director Leslie J. Rechan purchased 2,000 shares of the stock in a transaction on Wednesday, May 11th. The shares were purchased at an average price of $204.42 per share, with a total value of $408,840.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $408,840. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Timothy Edwin Lang bought 2,500 shares of the stock in a transaction dated Wednesday, May 11th. The stock was purchased at an average cost of $200.00 per share, for a total transaction of $500,000.00. Following the acquisition, the executive vice president now owns 2,708 shares in the company, valued at approximately $541,600. The disclosure for this purchase can be found here. Insiders own 22.59% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital International Investors grew its holdings in shares of MicroStrategy by 3.3% in the 1st quarter. Capital International Investors now owns 1,382,463 shares of the software maker’s stock worth $672,319,000 after purchasing an additional 43,838 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of MicroStrategy by 36.4% in the 1st quarter. Vanguard Group Inc. now owns 888,222 shares of the software maker’s stock worth $431,960,000 after purchasing an additional 237,109 shares during the last quarter. Capital World Investors grew its holdings in shares of MicroStrategy by 5.9% in the 1st quarter. Capital World Investors now owns 622,941 shares of the software maker’s stock worth $302,949,000 after purchasing an additional 34,945 shares during the last quarter. Morgan Stanley lifted its position in MicroStrategy by 11.0% during the 3rd quarter. Morgan Stanley now owns 431,687 shares of the software maker’s stock worth $249,689,000 after buying an additional 42,904 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in MicroStrategy by 31.9% during the 1st quarter. First Trust Advisors LP now owns 226,800 shares of the software maker’s stock worth $110,297,000 after buying an additional 54,911 shares in the last quarter. 52.87% of the stock is currently owned by institutional investors and hedge funds.
About MicroStrategy (Get Rating)
MicroStrategy Incorporated provides enterprise analytics software and services worldwide. It offers MicroStrategy, an enterprise platform, which provides a modern analytics experience by delivering insights across multiple devices to users via hyperintelligence products, visualization and reporting capabilities, mobility features, and custom applications developed on the platform; analysts and data scientists with seamless access to trusted, governed data directly within their tools; and APIs and gateways, multiple deployment options, enterprise semantic graph, scalability, and security.
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