Fitzsimmons Reaffirms MSFT Buy Rating at $550 Target
Piper Sandler analyst Billy Fitzsimmons has reaffirmed his Buy rating on Microsoft (MSFT), the tech giant. He set a price target of $550.00, which is below the current consensus among analysts of a Strong Buy with an average price target of $568.31.
Microsoft's latest earnings release for the quarter ending June 30 showed revenue of $90.01 billion and net profit of $35.77 billion. This compares to last year's figures of $76.44 billion in revenue and $27.23 billion in net profit.
The analyst consensus on Microsoft remains a Strong Buy, but there is some cautionary sentiment. Corporate insider activity has been negative in the past quarter, with an increase in insiders selling their shares compared to earlier this year. Judson Althoff, EVP & CCO of MSFT, recently sold 10,000.00 shares for $4,878,900.00.