Macquarie analyst Frederick Havemeyer raised the firm’s price target on Microsoft to $460 from $455 and keeps an Outperform rating on the shares following what the firm describes as “a well-balanced beat” in fiscal Q3. The firm estimates Azure AI Services crossed $4B in run-rate revenue, likes signs that Copilot testing and adoption are progressing, and tells investors that key growth drivers, especially Azure and Gaming, continue to perform well.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MSFT:
- Microsoft earnings press release available on Investor Relations website
- MSFT Earnings: Microsoft Jumps after Stellar Q3 Results
- Options Volatility and Implied Earnings Moves Today, April 25, 2024
- U.S. Tech Giants Prioritize Ethics, Cut Ties with Sandvine
- What Wall Street is saying about Microsoft ahead of earnings