Why Microsoft Stock Is Moving Higher Wednesday
Portfolio Pulse from Adam Eckert
Microsoft Corp (NASDAQ:MSFT) shares are trading higher after the company reported better-than-expected Q1 financial results and issued an upbeat outlook. Q1 revenue was $56.52 billion, beating estimates of $51.4 billion, and Q1 EPS was $2.99, beating estimates of $2.50. The company guided for fiscal second-quarter revenue of $60.4 billion to $61.4 billion. Piper Sandler analyst Brent Bracelin maintained Microsoft with an Overweight rating and raised the price target from $400 to $425.
October 25, 2023 | 12:58 pm
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Microsoft's better-than-expected Q1 results and positive Q2 outlook have driven its shares higher. The company's price target has been raised from $400 to $425 by Piper Sandler.
Microsoft's Q1 results exceeded estimates, which is a positive signal for investors and can drive the stock price up. The company's positive Q2 outlook further strengthens investor confidence. Piper Sandler's raised price target indicates a positive outlook for the stock.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100