TD Cowen analyst Derrick Wood has maintained a Buy rating on Microsoft (MSFT) with a price target of $540.00. The company’s shares closed at $450.18 last Friday. Wood is considered a 5-star analyst with an average return of 14.8% and a 61.90% success rate. He covers the Technology sector, focusing on stocks such as Oracle, Domo, and Microsoft.
The analyst consensus rating for Microsoft is Strong Buy, with an average price target of $512.34, suggesting a 13.81% upside from current levels. This consensus is supported by another recent report from Cantor Fitzgerald, which reiterated a Buy rating on the stock with a $512.00 price target.
Microsoft’s latest earnings release for the quarter ending March 31 showed a quarterly revenue of $70.07 billion and a net profit of $25.82 billion. This represents an increase from the previous year’s revenue of $61.86 billion and net profit of $21.94 billion.
However, corporate insider sentiment is negative on the stock, with 77 insiders selling their shares over the past quarter. Recently, Judson Althoff, Microsoft’s EVP & CCO, sold 16,000 shares for $7,330,803.98.
Recent Developments
Microsoft’s Build event saw the appearance of its rivals, according to a report by the FT. Meanwhile, the company continues to make headlines with its AI ambitions, driving a recent hike in its price target.
