Microsoft Corp. Price Target Increased to $36.00 by Analysts at Cowen and Company (MSFT)
Analysts at Cowen and Company increased their price objective on shares of Microsoft Corp. (NASDAQ:MSFT) from $35.00 to $36.00 in a research report issued to clients and investors on Friday, StockRatingsNetwork.com reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price target points to a potential upside of 0.76% from the company’s current price.
Microsoft Corp. (NASDAQ:MSFT) opened at 35.73 on Friday. Microsoft Corp. has a 52-week low of $26.26 and a 52-week high of $36.43. The stock’s 50-day moving average is $32.27 and its 200-day moving average is $32.03. The company has a market cap of $297.6 billion and a P/E ratio of 13.07. Microsoft Corp. also saw some unusual options trading on Wednesday. Investors bought 118,502 call options on the stock. This represents an increase of approximately 115% compared to the typical daily volume of 55,055 call options.
Microsoft Corp. (NASDAQ:MSFT) last released its earnings data on Thursday, October 24th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.07. The company had revenue of $18.53 billion for the quarter, compared to the consensus estimate of $17.83 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Analysts expect that Microsoft Corp. will post $2.70 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 19th. This is a positive change from Microsoft Corp.’s previous quarterly dividend of $0.23.
In other Microsoft Corp. news, EVP Anthony John Bates sold 43,984 shares of Microsoft Corp. stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $34.88, for a total transaction of $1,534,161.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on MSFT. Analysts at Credit Agricole raised their price target on shares of Microsoft Corp. from $38.00 to $39.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Sanford C. Bernstein raised their price target on shares of Microsoft Corp. from $41.00 to $44.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Microsoft Corp. in a research note to investors on Friday. They now have a $31.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.58.
Microsoft Corporation is engaged in developing, licensing and supporting a range of software products and services.
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