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Evercore ISI Believes Microsoft (MSFT) Still Has Room to Grow

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In a report released yesterday, Kirk Materne from Evercore ISI maintained a Buy rating on Microsoft (MSFTResearch Report), with a price target of $370.00. The company’s shares closed last Wednesday at $341.95, close to its 52-week high of $349.67.

According to TipRanks.com, Materne is a 5-star analyst with an average return of 21.2% and a 76.3% success rate. Materne covers the Technology sector, focusing on stocks such as CCC Intelligent Solutions Holdings, Qualtrics International, and Tyler Technologies.

Currently, the analyst consensus on Microsoft is a Strong Buy with an average price target of $370.23, implying an 8.5% upside from current levels. In a report issued on December 14, Morgan Stanley also maintained a Buy rating on the stock with a $364.00 price target.

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Based on Microsoft’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $45.32 billion and net profit of $20.51 billion. In comparison, last year the company earned revenue of $37.15 billion and had a net profit of $13.89 billion.

Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MSFT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Microsoft Corp. is a technology company offering an array of software, services, and solutions as well as devices like personal computers, tablets and gaming consoles. It operates through the following business segments:
• Productivity and Business Processes: generates revenue from Office Commercial and Office Consumer offerings, LinkedIn and Dynamics business solutions.
• Intelligent Cloud: includes public, private and hybrid server products and cloud services.
• More Personal Computing: includes Windows licensing, Windows Commercial products and cloud services, Surface devices and PC accessories, gaming business and search advertising revenue.
The company was founded by Paul Gardner Allen and William Henry Gates III in 1975 and is headquartered in Redmond, WA.

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