MicroStrategy to Report Q2 Earnings as Bitcoin Holdings Take a Hit
Strategy Inc., parent company of MicroStrategy (NASDAQ:MSTR), will announce its second-quarter earnings after market close on Thursday. The company is expected to report quarterly revenue of $121.88 million, a 6.40% increase from the same quarter last year.
The MSTR stock has a consensus price target of $360 with a 'Buy' rating, indicating a potential upside of 294.2% from current levels. Barclays initiated coverage of the stock earlier this month, assigning an 'Overweight' rating and a price target of $130.
However, concerns over Bitcoin's persistent decline in value may weigh on Strategy's results. The company holds 843,775 BTC valued at over $55 billion, currently sitting on paper losses of more than $8 billion. As the company has halted Bitcoin purchases for a month, selling 3,620 BTC to bolster its cash reserve to $3.225 billion.