Although Microsoft (NASDAQ: MSFT) has somewhat slowed down its gains in recent weeks, it has nonetheless closed a successful year that has seen the value of its stocks increase nearly 70%, and experts are bullish regarding its success for the next 12 months.
Indeed, Microsoft ended a positive year, profiting off the artificial intelligence (AI) hype, increased investor attention, strong fundamentals, and strategic prudence, leading veteran technology analyst at Wedbush wealth management corporation Dan Ives to raise the MSFT price target to $450.
Wall Street weighs in on Microsoft stock
At the same time, Ives is just one among the group of 37 Wall Street analysts who are very bullish on the technology giant’s stock price for the next 12 months, rating it as a ‘strong buy’ based on 36 votes, only one declaring it a ‘hold,’ with no ‘sell’ calls, as per TipRanks data on January 4.
Furthermore, they provided one-year price targets over the last three months, averaging $424.36, suggesting an increase of 14.51% from its current price, with the minimum price projection standing at $375 (+1.19%) and the maximum forecast amounting to $600 (+62%).
MSFT stock price analysis
At press time, the price of Microsoft stock stood at $370.60, a decline of 0.07% on the day and a drop of 1.08% across the previous week, but nonetheless increasing by 0.4% on its monthly chart and adding up to the 12-month gain of 64.76%, according to the latest data retrieved on January 4.
All things considered, Microsoft has shown steady performance compared to the rest of the stock market, considering that the software and technology mammoth has outperformed 92% of all other stocks while beating 72% of the other fellow 280 stocks in the software industry.
Other bullish signals include consistent behavior in both the short and longer-term time frames, the fact that it is trading near its 52-week high, and the demonstration of solid liquidity through an average volume of 27 million traded shares per day.
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