Microsoft Corp. Lowered to “Neutral” at Citigroup Inc. (MSFT)
Microsoft Corp. (NASDAQ:MSFT) was downgraded by Citigroup Inc. from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $29.00 target price on the stock. Citigroup Inc.’s price target suggests a potential downside of 21.11% from the stock’s previous close.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 2.74% during mid-day trading on Tuesday, hitting $36.76. 44,909,544 shares of the company’s stock traded hands. Microsoft Corp. has a one year low of $27.00 and a one year high of $38.98. The stock has a 50-day moving average of $37.08 and a 200-day moving average of $34.72. The company has a market cap of $306.9 billion and a P/E ratio of 13.40.
In other Microsoft Corp. news, EVP Anthony John Bates sold 14,000 shares of the stock on the open market in a transaction dated Friday, January 10th. The shares were sold at an average price of $35.94, for a total value of $503,160.00. Following the transaction, the executive vice president now directly owns 601,777 shares of the company’s stock, valued at approximately $21,627,865. The sale was disclosed in a filing with the SEC, which is available at this link.
MSFT has been the subject of a number of other recent research reports. Analysts at Barclays upgraded shares of Microsoft Corp. from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday, January 10th. They now have a $42.00 price target on the stock, up previously from $35.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Microsoft Corp. in a research note to investors on Monday, January 6th. Finally, analysts at Zacks upgraded shares of Microsoft Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, December 19th. They now have a $38.00 price target on the stock. Five research analysts have rated the stock with a sell rating, twenty have given a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $35.50.
Microsoft Corporation is engaged in developing, licensing and supporting a range of software products and services.
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