Wells Fargo & Co Raises Microsoft (NASDAQ:MSFT) Price Target to $160.00

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Microsoft (NASDAQ:MSFT) had its price objective raised by analysts at Wells Fargo & Co from $145.00 to $160.00 in a research report issued on Friday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the software giant’s stock. Wells Fargo & Co‘s price objective indicates a potential upside of 15.19% from the company’s previous close.

Several other brokerages also recently commented on MSFT. Cowen reiterated an “outperform” rating and issued a $69.00 target price (up previously from $67.00) on shares of Delta Air Lines in a report on Thursday. UBS Group reiterated a “buy” rating and issued a $124.00 target price on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Thursday, April 25th. Argus increased their target price on shares of Microsoft to $145.00 and gave the company a “buy” rating in a report on Monday, April 29th. Morgan Stanley lowered their target price on shares of RPC from $12.00 to $9.50 and set an “underperform” rating for the company in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and issued a $7.00 target price on shares of Deutsche Bank in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Microsoft currently has an average rating of “Buy” and an average target price of $138.14.

Shares of MSFT stock opened at $138.90 on Friday. The firm has a 50-day moving average price of $132.11. The stock has a market capitalization of $1,060.53 billion, a P/E ratio of 35.80, a P/E/G ratio of 2.49 and a beta of 1.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.93 and a current ratio of 2.97. Microsoft has a one year low of $93.96 and a one year high of $139.22.

Microsoft (NASDAQ:MSFT) last announced its earnings results on Wednesday, April 24th. The software giant reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.14. The company had revenue of $30.57 billion during the quarter, compared to the consensus estimate of $29.86 billion. Microsoft had a net margin of 28.58% and a return on equity of 39.34%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. On average, equities research analysts predict that Microsoft will post 4.58 earnings per share for the current year.

In other news, EVP Kathleen T. Hogan sold 15,947 shares of Microsoft stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $133.17, for a total value of $2,123,661.99. Following the completion of the transaction, the executive vice president now owns 202,518 shares in the company, valued at $26,969,322.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher C. Capossela sold 3,000 shares of Microsoft stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $128.87, for a total transaction of $386,610.00. The disclosure for this sale can be found here. Insiders sold 216,247 shares of company stock valued at $28,204,754 in the last quarter. Corporate insiders own 1.38% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC bought a new position in shares of Microsoft in the fourth quarter valued at approximately $26,000. Highwater Wealth Management LLC bought a new position in shares of Microsoft in the fourth quarter valued at approximately $27,000. Centaurus Financial Inc. boosted its position in shares of Microsoft by 21.1% in the first quarter. Centaurus Financial Inc. now owns 3,222 shares of the software giant’s stock valued at $27,000 after acquiring an additional 561 shares during the period. Mackey Komara & Dankovich LLC bought a new position in shares of Microsoft in the fourth quarter valued at approximately $30,000. Finally, Ayalon Holdings Ltd. bought a new position in shares of Microsoft in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 72.04% of the company’s stock.

About Microsoft

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.

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