MicroStrategy Q2 Earnings On Deck: What Investors Need To Know Before The 'Bitcoin Development Company' Reports After The Bell
Portfolio Pulse from Adam Eckert
MicroStrategy Inc (NASDAQ:MSTR) is set to report its Q2 earnings after the bell on Thursday. Analysts expect a loss of 11 cents per share on revenue of $122.6 million. The company holds 226,331 Bitcoin as of June 20, 2024. Recent analyst ratings are positive, with price targets ranging from $1,826 to $2,890. A 10-for-1 stock split is scheduled, with trading on a split-adjusted basis starting on Aug. 8. MSTR shares are up 142% year-to-date but down 5.4% at $1,527.23 at the time of publication.
August 01, 2024 | 4:46 pm
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POSITIVE IMPACT
MicroStrategy's stock is heavily influenced by the price of Bitcoin. Executive chairman Michael Saylor predicts Bitcoin could rise to $13 million per coin by 2045. The company's significant Bitcoin holdings make its stock price sensitive to Bitcoin's price movements.
MicroStrategy's significant Bitcoin holdings mean that any movement in Bitcoin's price will likely impact MSTR's stock price. Positive predictions by Michael Saylor could boost investor sentiment towards Bitcoin and, by extension, MSTR.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
MicroStrategy is expected to report a Q2 loss of 11 cents per share on $122.6 million revenue. The company holds 226,331 Bitcoin and has positive analyst ratings with price targets ranging from $1,826 to $2,890. A 10-for-1 stock split is scheduled for Aug. 8.
The upcoming earnings report, positive analyst ratings, and the scheduled stock split are likely to have a positive short-term impact on MSTR's stock price. The company's significant Bitcoin holdings also add to its volatility and potential upside.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100