“Clearly Microsoft’s stock has been on a tear so far in 2023 as we believe investors are starting to slowly appreciate that still less than 50% of the workloads have moved to the cloud and Redmond remains in an enviable position to gain share in its enterprise backyard against AWS in this cloud arms race over the next 12 to 18 months,” Ives wrote in a note to clients. The new target ties Ives with Mizuho’s Gregg Moskowitz as the sixth most bullish of the 49 analysts surveyed by FactSet who cover Microsoft. Ives reiterated the outperform rating he’s had on Microsoft for at least three years, while raising his stock price target by about 9%, to $315 from $290. Microsoft stock has declined 25.5 so far this year, as the S&P 500 index SPX, -1.18 has dropped 20.3 and the Dow Jones Industrial Average DJIA, -0.76 which counts Microsoft as one of its. Rose 0.3% in morning trading, after falling 2.3% on Tuesday to lead the Dow Jones Industrial Average’s The FactSet consensus called for $12.9 billion.“While the macro is not roses and champagne, we believe Microsoft will emerge out of this period in a stronger position strategically which further adds to the sum-of-the-parts valuation on ,” Ives wrote in a note to clients. Revenue for Microsoft’s More Personal Computing segment, which houses Windows and Xbox content and services, rose 3% to $13.7 billion and was up 2% on a constant-currency basis. company facts, information and financial ratios from MarketWatch. The surge in Microsoft Corp.’s stock MSFT, +1.29, in the wake of the software behemoth’s blowout earnings report, was the reason futures YM00, +0.08 for the Dow Jones Industrial Average ES00. Analysts had been looking for $18.2 billion in segment revenue. Watch list Set a price target alert After Hours Last Updated: 4:59 p.m. That segment of the business includes LinkedIn and Office. Microsoft recorded $18.6 billion in revenue for its productivity and business processes unit, up 13% from a year earlier, or up 12% on a constant-currency. Redmond, Wash.-based Microsoft hopes to plunk down some 69 billion to acquire videogame publisher Santa Monica, Calif.-based Activision Blizzard. Microsoft stock surges toward another record close, has added about 308 billion in market cap in 11 days Published: Nov. Analysts tracked by FactSet were expecting $2.65 in earnings per share. MSFT slipped 1.68 to 369.85 Friday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX rising 0. The company logged September-quarter net income of $22.3 billion, or $2.99 a share, whereas it earned $17.6 billion, or $2.35 a share, in the year-prior period. Historical daily share price chart and data for Microsoft since 1986 adjusted for splits and dividends. The 12% growth on a constant-currency basis prompted Jefferies analyst Brent Thill to title his note to clients: “Double Digit Growth Without AI? Stay Long.” Microsoft, Cisco, IBM and other big tech companies top list of tax. View the latest MSFT financial statements, income statements and financial ratios. Overall revenue rose to $56.5 billion from $50.1 billion a year before, while analysts were modeling $54.5 billion. “While the focus now shifts to the drivers behind these results, including whether or not we are past the Azure ‘bottom’ or whether there were one-time items that resulted in the beat, we believe that the narrative gets even stronger into the rest of FY24 as some optical headwinds reverse and soften, and Microsoft’s position in the enterprise market continues to get stronger as customers look to consolidate spending,” Evercore ISI analyst Kirk Materne wrote in a note to clients. Microsoft’s cloud-computing unit, dubbed Intelligent Cloud, saw a 19% bump in revenue to $24.3 billion during the latest quarter. “Despite a precarious economic environment, Microsoft’s results show how AI continues to drive cloud computing growth and how there’s still legs left in this business,” Maribel Lopez, a tech industry analyst and founder of Lopez Research, told MarketWatch. Create real-time notifications to follow any changes in the live stock price. Microsoft is targeting 26% to 27% constant-currency Azure revenue growth for its fiscal second quarter, and Chief Financial Officer Amy Hood said on the earnings call that she expected “roughly stable” growth in the second half relative to the current quarter, “assuming the optimization and new workload trends continue and with the growing contribution from AI.” View todays Microsoft Corporation stock price and latest MSFT news and analysis.
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