Barclays, a leading financial behemoth, has raised the share price target of Microstrategy, a company synonymous with Bitcoin, as BTC took a new ascending price route, rallying past $66K on Tuesday. The analyst has amped the MSTR price target from $173 to $225, adding how Microstrategy’s Bitcoin hoarding strategy may fare well for its stock in the long haul.
Microstrategy Shares To Soar To $225?
Microstrategy is a leading company that delivers services in business intelligence, mobile software, and cloud-based services. Apart from disseminating stellar corporate services, the company is boldly known for hoarding Bitcoin, boasting a massive stash exceeding 252,000 BTC.
The recent Bitcoin rally has proven lucrative for Microstrategy, as the company has relatively close links with Bitcoin. As Bitcoin soared to $67K, the recent price rally also compelled MSTR stock to gain market prominence.
Historically, MSTR stock has gained a whopping 1620% after adopting a BTC-inspired corporate stance. Microstrategy’s CEO, Michael Saylor, uploaded the stats, showcasing how the firm’s corporate pace has significantly improved after including Bitcoin in its ecosystem.
Saylor took to X to share a post outlining how MSTR has outperformed major market stocks, including the magnificent seven and S&P 500 stocks.
Barclays Raises MSTR Stock Price
In the middle of this, Barclays, the British multinational bank, has issued a new stock price forecast for Microstrategy. The firm has raised the MSTR price target to $225 from $173. The banking giant has acknowledged the firm’s power to reach the top of the radar.
Per TipRanks, the MSTR stock price target may hit $201. The portal has forecasted a high price target of $290, which may be claimed in the next 12 months.
“Based on 8 Wall Street analysts offering 12-month price targets for Microstrategy in the last 3 months. The average price target is $208.75 with a high forecast of $290.00 and a low forecast of $173.00. The average price target represents a 3.51% change from the last price of $201.67. Microstrategy Inc.’s analyst rating consensus is a Strong Buy. This is based on the ratings of 8 Wall Street analysts.”
