While Microsoft (NASDAQ: MSFT) enjoyed a strong stock market recovery between March 27 and April 22, the equity entered a period of volatile consolidation and remains 14.23% in the red year-to-date (YTD) at its press time price of $414.80.
Nonetheless, May 6 and 7 saw a series of bullish notes from Wall Street regarding MSFT shares, with three out of the four revisions issued on Wednesday and Thursday being optimistic.
The most significant show of confidence for Microsoft stock came from Tigress Financial analyst Ivan Feinseth, who increased his 12-month price target by 14.29%: from a 43.44% predicted upside to $595 to a 63.93% forecasted rally to $680.
Feinstein’s assessment – reliant on the estimate that the blue-chip technology giant’s involvement with artificial intelligence (AI) will, by way of cloud services, continue generating high-margin revenue and cash flow growth – can be seen as a particularly important endorsement.
Specifically, the Tigress Financial expert boasts a 60% ‘Success Rate’ and a 10.90% average return for a top rating on the stock analysis platform TipRanks.
Analysts update Microsoft stock price target
Looking at the other notes issued on Wednesday and Thursday, only Brad Reback from Stifel Nicolaus broke with the bearish sentiment as he confirmed he deems Microsoft stock a ‘Hold’ with a stagnant associated 12-month price target of $415.
DBS’ Sachin Mittal and Barclays’ Raimo Lenschow, on the other hand, maintained their previous ‘Buy’ recommendations and their previous forecasts at $573 and $545, respectively.
Wall Street predicts Microsoft’s stock price in 12 months’ time
Zooming out, the most recent notes are largely consistent with the overall institutional attitudes toward Microsoft stock. Indeed, MSFT shares are, based on the sum of coverage provided in the last three months, considered a ‘Strong Buy.’
Furthermore, the average price target for the next 12 months stands at $559.98 for a 35.27% expected upside, per the data Finbold retrieved from TipRanks on May 7.
Featured image via Shutterstock
