MicroStrategy (NASDAQ:MSTR) Shares Gap Down to $1,447.99

MicroStrategy Incorporated (NASDAQ:MSTR) shares gapped down before the market opened on Monday . The stock had previously closed at $1,447.99, but opened at $1,051.65. MicroStrategy shares last traded at $1,198.01, with a volume of 729,078 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein upgraded MicroStrategy to a “strong-buy” rating in a research report on Friday, June 14th. Canaccord Genuity Group dropped their target price on shares of MicroStrategy from $2,047.00 to $1,826.00 and set a “buy” rating for the company in a report on Monday, June 24th. Benchmark upped their price target on shares of MicroStrategy from $1,875.00 to $2,150.00 and gave the company a “buy” rating in a report on Friday. TD Cowen raised their price objective on shares of MicroStrategy from $1,450.00 to $1,880.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Maxim Group upped their target price on MicroStrategy from $1,835.00 to $1,930.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,079.33.

MicroStrategy Price Performance

The stock has a market capitalization of $23.21 billion, a PE ratio of -191.04 and a beta of 3.11. The company’s 50 day simple moving average is $1,529.24 and its 200 day simple moving average is $1,291.87. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.48.

MicroStrategy shares are set to split before the market opens on Thursday, August 8th. The 10-1 split was announced on Thursday, August 8th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, August 8th.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported ($5.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($4.81). The company had revenue of $111.44 million during the quarter, compared to analyst estimates of $121.99 million. MicroStrategy had a negative net margin of 43.69% and a negative return on equity of 16.83%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 EPS.

Hedge Funds Weigh In On MicroStrategy

A number of large investors have recently modified their holdings of the company. Signaturefd LLC increased its holdings in MicroStrategy by 13.6% in the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after purchasing an additional 6 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after buying an additional 8 shares in the last quarter. Cigna Investments Inc. New raised its holdings in shares of MicroStrategy by 5.1% during the 2nd quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock valued at $226,000 after buying an additional 8 shares during the period. Crossmark Global Holdings Inc. lifted its position in MicroStrategy by 2.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock worth $551,000 after acquiring an additional 11 shares in the last quarter. Finally, Rise Advisors LLC boosted its holdings in MicroStrategy by 233.3% in the 1st quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock worth $34,000 after acquiring an additional 14 shares during the period. 72.03% of the stock is currently owned by hedge funds and other 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.