Analyst Lance Vitanza of TD Cowen maintained a Buy rating on Microstrategy (MSTR – Research Report), with a price target of $1,560.00.
Lance Vitanza has given his Buy rating due to a combination of factors including MicroStrategy’s aggressive acquisition of Bitcoin and the confidence in Bitcoin’s potential as a superior store of value. Vitanza sees the company’s significant Bitcoin holdings as a unique investment proposition for investors seeking exposure to the cryptocurrency through a publicly traded company. He notes that MicroStrategy has utilized the proceeds from its recent convertible notes offering effectively, by adding to its already substantial Bitcoin position.
Furthermore, Vitanza is optimistic about the company’s strategic approach to Bitcoin, viewing the cryptocurrency as a hedge against fiat currencies and other asset classes. He underscores that MicroStrategy’s Bitcoin investment has already appreciated in value, with the market value of their holdings substantially exceeding their initial purchase cost. This appreciation demonstrates the soundness of the company’s investment strategy, thus reinforcing the Buy rating for the stock in the view of the analyst.
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Microstrategy (MSTR) Company Description:
MicroStrategy, Inc. engages in the provision of enterprise analytics and mobility software. It designs, develops, markets, and sells software platform through licensing arrangements and cloud-based subscriptions and related services. Its flagship platform, MicroStrategy 10, consists of the MicroStrategy Analytics, MicroStrategy Mobile, and Usher brands. The company was founded by Michael J. Saylor and Sanjeev K. Bansal on November 17, 1989 and is headquartered in Vienna, VA.
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