MSTR Stock Soars on Bullish Guidance and Bitcoin Exposure
MicroStrategy's stock has been on the rise after strong earnings and bullish forward guidance from several Wall Street firms, including B. Riley, Canaccord, Barclays, and Bernstein.
The firms have set targets ranging from $160 to $350 for the company's shares, with an average target of around $230.83.
Alliance Global launched coverage on MicroStrategy at Buy with a $217 target, citing the company's massive bitcoin holdings as a key driver of its growth potential.
The company has built a $1.59B 'USD Cash' liquidity pool to fund preferred stock buybacks, add $300M to reserves, and support future bitcoin and balance-sheet moves.