Microsoft's Azure Growth Ignites 28.7% Upside Prediction

Microsoft has closed its record fiscal year with Azure surpassing $100 billion in annual revenue and Microsoft 365 Copilot passing 30 million paid seats.

Despite this, shares are still down 2.3% over the past year, trading at $498.51.

The 24/7 Wall St. price target for Microsoft is $640.92 over the next 12 months, implying a 28.7% upside.

A $678 billion RPO backlog gives multi-year visibility that the current 27x multiple does not fully price in.