Cantor Fitzgerald initiated coverage on MicroStrategy (MSTR) with an "overweight" rating. The firm set a price target of $213.00. This suggests a potential 33.3% upside from the prior closing price.
Cantor Fitzgerald highlighted MicroStrategy's position as the "world's first BTC operating company." The firm praised its innovative use of capital markets to offer Bitcoin exposure.
The analyst based the valuation on a sum-of-the-parts model. This model considers the core software business and the company’s extensive Bitcoin holdings. The firm assumes a Bitcoin price of $108,000 by fiscal year 2026.
The positive coverage follows MicroStrategy’s recent acquisition announcement. The company acquired an additional 2,932 bitcoins. The purchase cost totaled about $264.1 million.