MicroStrategy Bull Doubles Down on The Stock by Raising Price Target to Wall Street High

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MicroStrategy Bull Doubles Down on The Stock by Raising Price Target to Wall Street High
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Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

Benchmark has raised its price target for MicroStrategy to $2,150 even as the company posted a revenue miss on Thursday.

The broker's analyst noted the company's share price outperformance since adoption of bitcoin as its primary treasury reserve asset in August 2020. Since then, the stock's performance was significantly better than other assets like bitcoin or the S&P 500 and Nasdaq, Palmer noted.Trump-Linked Website Is Selling 'Bitcoin Sneakers;' Tether Reports Record Net Profits This Year

Wall Street brokerage Benchmark defended MicroStrategy's bitcoin plan and raised the stock's price target to $2,150 - the highest among analysts - even after the company Since adopting bitcoin as its primary treasury reserve asset in August 2020, Executive Chairman Michael Saylor-led company has appreciated 1,206%, Benchmark’s analyst Mark Palmer wrote in a research report on Friday.

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