MSTR Stock Price Rallies Amid BTC Sales and Repurchases, But Targets Trimmed

Strategy (NASDAQ: MSTR) stock rose by 1.69% on August 4 to close trading at $94, following a sale of $1,638 BTC that generated proceeds used for repurchasing $81.2 million worth of STRC shares.

The price of STRC shares reached its highest point since June 17 at $92 after the stock buyback. However, despite this rally, two Wall Street firms, Cantor Fitzgerald and B.Riley, have reduced their price targets on MSTR stock.

Cantor Fitzgerald lowered its target from $212 to $186 due to a revised forecast for Bitcoin's price, which is now expected to reach $98,000 instead of the earlier predicted $111,000 by August 2027. B.Riley also decreased its target from $215 to $155, attributing this reduction to a lower forecast on Bitcoin price, down from $81,500 to $65,000.