Evercore Partners Upgrades Microsoft Corp. to “Overweight” (MSFT)
Microsoft Corp. (NASDAQ:MSFT) was upgraded by investment analysts at Evercore Partners from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $38.00 price objective on the stock. Evercore Partners’ price target indicates a potential upside of 15.54% from the company’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Microsoft Corp. in a research note to investors on Tuesday. Separately, analysts at Thomson Reuters/Verus upgraded shares of Microsoft Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday, July 29th. Finally, analysts at Atlantic Securities downgraded shares of Microsoft Corp. from an “overweight” rating to a “neutral” rating in a research note to investors on Monday, July 29th. They now have a $33.00 price target on the stock, down previously from $35.00.
Two analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and thirteen have given a buy rating to the company. Microsoft Corp. has a consensus rating of “Hold” and a consensus target price of $34.00.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 2.58% during mid-day trading on Thursday, hitting $32.89. Microsoft Corp. has a one year low of $26.26 and a one year high of $36.43. The stock’s 50-day moving average is currently $33.51. The company has a market cap of $274.0 billion and a P/E ratio of 12.43.
Microsoft Corp. (NASDAQ:MSFT) last announced its earnings results on Thursday, July 18th. The company reported $0.59 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.75 by $0.16. The company had revenue of $19.90 billion for the quarter, compared to the consensus estimate of $20.73 billion. During the same quarter last year, the company posted $0.73 earnings per share. Microsoft Corp.’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Microsoft Corp. will post $2.77 earnings per share for the current fiscal year.
In other Microsoft Corp. news, EVP Tami Reller dumped 5,800 shares of Microsoft Corp. stock on the open market in a transaction dated Thursday, August 1st. The shares were sold at an average price of $32.09, for a total value of $186,122.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Microsoft Corporation is engaged in developing, licensing and supporting a range of software products and services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.