Citigroup Trims Microsoft (NASDAQ:MSFT) Target Price to $355.00

Microsoft (NASDAQ:MSFTGet Rating) had its price objective reduced by research analysts at Citigroup from $386.00 to $355.00 in a research report issued on Tuesday, April 19th, The Fly reports. The brokerage currently has a “buy” rating on the software giant’s stock. Citigroup’s price objective would suggest a potential upside of 22.42% from the stock’s current price.

Several other analysts have also commented on MSFT. Morgan Stanley boosted their price target on Microsoft from $364.00 to $372.00 and gave the company an “overweight” rating in a research note on Wednesday, January 26th. Mizuho decreased their price target on Microsoft from $360.00 to $350.00 in a research note on Tuesday, January 18th. Royal Bank of Canada set a $380.00 price target on Microsoft in a research note on Wednesday, January 26th. UBS Group set a $360.00 price objective on Microsoft in a research note on Monday, April 11th. Finally, Fundamental Research boosted their price objective on Microsoft from $299.93 to $306.55 and gave the stock a “hold” rating in a research note on Wednesday, January 26th. Two research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $356.37.

Shares of MSFT stock traded up $8.20 during trading on Tuesday, reaching $289.98. The company had a trading volume of 33,463,409 shares, compared to its average volume of 36,490,988. The firm’s 50 day simple moving average is $292.31 and its two-hundred day simple moving average is $310.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.99 and a quick ratio of 1.95. Microsoft has a one year low of $238.07 and a one year high of $349.67. The company has a market capitalization of $2.17 trillion, a PE ratio of 30.18, a PEG ratio of 2.36 and a beta of 0.93.

Microsoft (NASDAQ:MSFTGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The software giant reported $2.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.03. The company had revenue of $49.36 billion for the quarter, compared to the consensus estimate of $49.05 billion. Microsoft had a return on equity of 44.85% and a net margin of 37.63%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.95 EPS. Analysts forecast that Microsoft will post 9.32 earnings per share for the current year.

In related news, insider Bradford L. Smith sold 27,860 shares of the stock in a transaction that occurred on Tuesday, February 8th. The stock was sold at an average price of $304.64, for a total transaction of $8,487,270.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.05% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. AAF Wealth Management LLC raised its position in shares of Microsoft by 2.6% during the 3rd quarter. AAF Wealth Management LLC now owns 1,279 shares of the software giant’s stock valued at $360,000 after purchasing an additional 32 shares during the period. Garner Asset Management Corp increased its holdings in Microsoft by 0.3% in the 3rd quarter. Garner Asset Management Corp now owns 9,907 shares of the software giant’s stock valued at $2,793,000 after acquiring an additional 32 shares during the last quarter. Hudock Inc. increased its holdings in Microsoft by 0.3% in the 3rd quarter. Hudock Inc. now owns 12,156 shares of the software giant’s stock valued at $3,427,000 after acquiring an additional 33 shares during the last quarter. Capital Square LLC increased its holdings in Microsoft by 0.8% in the 4th quarter. Capital Square LLC now owns 4,074 shares of the software giant’s stock valued at $1,289,000 after acquiring an additional 33 shares during the last quarter. Finally, ACT Wealth Management LLC increased its holdings in Microsoft by 0.8% in the 4th quarter. ACT Wealth Management LLC now owns 4,097 shares of the software giant’s stock valued at $1,378,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 69.99% of the company’s stock.

Microsoft Company Profile (Get Rating)

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.

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