MicroStrategy (MSTR) stock ended today as the business intelligence and software provider prepares to report its third quarter results on October 30, 2024. Analysts expect earnings per share of -$0.12 on revenue of $121.45 million. According to TipRanks data, this represents a year-over-year increase of 78.94% and 8.98%, respectively.

This is ideal because earnings per share should grow faster than sales. Additionally, MSTR stock is up 57% over the past three months, likely driven largely by the company's significant Bitcoin holdings (BTC USD) assets. BTC prices are rising today and have been trending upwards all week.

BTIG analyst Andrew Harte recently raised his price target on MSTR stock from $180 to $240, but maintained a Buy before earnings rating. In a note to investors, he explained that “the market () has rewarded the company for its capital raises since the second quarter results, which were used in part to reduce existing high-yield debt that some investors had concerns about in terms of interest coverage.” .” .”

Investor sentiment is currently positive

Similar to Harte, many investors are extremely positive about the previous earnings of MSTR shares. In the last 30 days, almost 10% of portfolios holding MicroStrategy have increased their position. Although this number has only increased by 0.1% in the past week, investor sentiment towards MSTR remains very positive, according to TipRanks data.

Although only 1.2% of all portfolios hold the stock, the investors behind it have shown an undeniably optimistic outlook.

Is MicroStrategy stock a buy, sell or hold?

As for Wall Street, analysts have a Strong Buy consensus rating on MSTR stock based on eight purchases made in the past three months, as shown in the chart below. Still, MSTR's average price target of $220 per share implies downside potential of 14.8%, following a 515% increase in the share price over the past year.

See more MSTR analyst ratings