MSTR - Canaccord Genuity Lowers MicroStrategy Target Price Maintains Buy Rating | Benzinga
Canaccord Genuity has revised its target price for MicroStrategy (NASDAQ:MSTR) from $2,047.00 to $1,826.00 while maintaining its buy rating.
Despite the adjustment, the firm’s analysts remain optimistic about the company’s long-term prospects, particularly due to its strategic Bitcoin (CRYPTO: BTC) acquisition approach.
MicroStrategy, a leading enterprise analytics and mobility software provider, has gained significant attention in recent years for its substantial investments in Bitcoin.
As of the latest update, the company holds approximately 226,311 Bitcoin, valued at around $14.5 billion.
This aggressive acquisition strategy has positioned MicroStrategy as a key player for equity investors seeking exposure to digital assets.
The adjustment in the target price reflects several factors, including a recent decline in Bitcoin prices and a slight contraction in the premium of MicroStrategy's ...