In a report released today, Lance Vitanza from TD Cowen maintained a Buy rating on Strategy, with a price target of $640.00.
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Lance Vitanza has given his Buy rating due to a combination of factors that highlight Strategy’s proactive financial maneuvers and strategic positioning in the market. The company has been consistently increasing its bitcoin holdings at a pace that surpasses its liabilities, suggesting a robust balance sheet management. This approach is expected to yield a premium value over the intrinsic worth of bitcoin, especially as the cryptocurrency becomes more embedded in the global financial system.
Furthermore, Strategy’s recent acquisition of 1,955 bitcoins, funded through the issuance of common stock, indicates a strategic use of equity to capitalize on market conditions. This move aligns with the company’s updated guidance and reflects management’s confidence in leveraging perceived temporary market weaknesses. Vitanza views any skepticism towards Strategy as a broader skepticism towards bitcoin, reinforcing his positive outlook on the stock.
In another report released today, Benchmark Co. also reiterated a Buy rating on the stock with a $705.00 price target.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MSTR in relation to earlier this year.