Tech giant Microsoft (NASDAQ:MSFT) disclosed in a company filing that a Russian state-sponsored hacker known as Midnight Blizzard, also known as Nobelium, hacked into the email accounts of the company’s senior leadership team.
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The company stated that on January 12, it detected a nation-state attack on its corporate systems. Microsoft added that in November last year, Midnight Blizzard used a password spray attack on a non-production test account, accessing a small number of corporate email accounts, including that of senior leadership and employees in its cybersecurity, legal, and other functions.
The tech giant added that the attack wasn’t due to the company’s product vulnerabilities. There is no evidence to suggest that the hacker had access to customer data, production systems, source code, or AI systems. Microsoft stated that it is continuing its investigation in collaboration with law enforcement and regulatory agencies.
What is the Target Price of MSFT?
Analysts remain bullish about MSFT with a Strong Buy consensus rating based on 36 Buys and one Hold. Over the past year, MSFT stock has jumped by more than 60%, and the average MSFT price target of $433.24 implies an upside potential of 8.7% at current levels.
