Microsoft Gets Price Target Bumps By Analysts After Strong Q3 Results

Microsoft Corporation MSFT reported better-than-expected results for its third quarter on Tuesday.

Microsoft said third-quarter revenue increased 7% year-over-year to $52.9 billion. The company’s top-line results beat consensus estimates of $51.02 billion. The company reported quarterly earnings of $2.45 per share, which beat estimates of $2.23 per share and was up 10% year-over-year.

Microsoft shares rose 7.6% to $296.40 in pre-market trading.

These analysts made changes to their price targets on Microsoft following earnings announcement.

• Jefferies raised the price target on Microsoft from $325 to $350. Jefferies analyst Brent Thill maintained a Buy rating.
• Barclays increased the price target on Microsoft from $310 to $336. Barclays analyst Raimo Lenschow maintained an Overweight rating
• JP Morgan increased the Microsoft price target from $305 to $315. JP Morgan analyst Mark Murphy maintained an Overweight rating on the stock.
• Wolfe Research raised Microsoft price target from $330 to $350. Wolfe Research analyst Alex Zukin maintained the stock with an Outperform rating.
• Mizuho increased the price target on Microsoft from $315 to $325. Mizuho analyst Gregg Moskowitz maintained the stock with a Buy.
• Stifel boosted price target on Microsoft from $310 to $320. Stifel analyst Brad Reback maintained a Buy rating on the stock.
• MoffettNathanson raised price target on Microsoft from $263 to $306. MoffettNathanson analyst Sterling Auty maintained the stock with a Market Perform.
• Wells Fargo boosted Microsoft price target from $320 to $345. Wells Fargo analyst Michael Turrin maintained the stock with an Overweight.
• Oppenheimer increased Microsoft price target from $310 to $330. Oppenheimer analyst Timothy Horan maintained the stock with an Outperform.
• Macquarie raised Microsoft price target from $260 to $325. Macquarie analyst Sarah Hindlian upgraded the stock from Neutral to Outperform.
• BMO Capital raised Microsoft price target from $325 to $347. BMO Capital analyst Keith Bachman upgraded the stock from Market Perform to Outperform.
• Credit Suisse boosted Microsoft price target from $285 to $350. Credit Suisse analyst Sami Badri maintained the stock with an Outperform.
• Rosenblatt increased Microsoft price target from $275 to $310. Rosenblatt analyst Blair Abernethy maintained the stock with a Buy.

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