MicroStrategy Shares Jumps In Friday Pre-Market As Bitcoin Rebounds To $96,000: Consensus Price Target Reveals Over 15% Upside For MSTR

Pooja Rajkumari

November 29, 2024

MicroStrategy Inc. (NASDAQ:MSTR) experienced a notable 4.44% increase in its share price during pre-market trading on Friday as per Benzinga Pro. This rise aligns with Bitcoin‘s (CRYPTO: BTC) recovery from its recent dip.

What Happened: Earlier this week, Bitcoin had dropped to $92,000 but was trading at $96,596.96 by 5:26 a.m. ET. The cryptocurrency’s resurgence seems to have positively impacted MicroStrategy’s stock performance.

MicroStrategy’s consensus price target stands at $449.5, based on assessments from 12 analysts. The highest target of $690 was set by BTIG on December 11, 2023, while the lowest, $140, was issued by Jefferies on Nov. 10, 2022.

See Also: Bitcoin, Ethereum, Dogecoin Tumble As ‘Diamond Hands’ Lock In Gains: Top Analyst Anticipates BTC Rebound

As per Benzinga Pro, the consensus price target for MSTR is $449.5 based on the ratings of 12 analysts. The most recent analyst ratings for MicroStrategy were provided by TD Cowen, Barclays, and Benchmark on Nov. 25. These ratings suggest an average price target of $563.33, indicating a potential upside of 38.72% for the company.

Why It Matters: MicroStrategy’s stock performance is closely tied to Bitcoin’s fluctuations due to its substantial investment in the cryptocurrency. The company’s strategy of acquiring and holding Bitcoin has been both praised and criticized. Recently, economist and market strategist Peter Schiff predicted potential bankruptcy for MicroStrategy due to its Bitcoin investment approach. In an interview with Kitco News, Schiff described MicroStrategy as a “great short” and suggested that the company’s strategy could ultimately lead to bankruptcy. Schiff’s comments highlight the risks associated with MicroStrategy’s heavy reliance on Bitcoin’s market performance.

Read Next:

Bitcoin, Ethereum, Dogecoin Surge As Traders Raise Risk Appetite Ahead Of Thanksgiving: Analyst Sets Mid-Term Price Target For ETH At $6K

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Image via Shutterstock

Recommended

The Summit That Could Reshape Your Crypto Strategy - Ad

A Historic Gold Announcement Is About to Rock Wall Street - Ad

FDA Submission Expected This Summer - Invest Before It Happens - Ad

Popular

Tears of the UK's treasury chief spooked financial markets

LONDON (AP) — The weekly session in which the British prime minister is questioned by lawmakers in Parliament can be an ordeal for the government leader. For Cabinet members, it’s usually simply a matter of backing their boss.

Autonomous Vehicles Hit Their 'ChatGPT Moment' — Best Stocks To Watch Now

Autonomous vehicles are entering their ‘ChatGPT moment' as AI unlocks real-world deployment. Discover 28 top stocks in a $1.2 trillion market.

The Unlikely Duo Rethinking Wearable Technology

The Unlikely Duo Rethinking Wearable Technology - Ad

Why did a surgeon and Snap exec team up? They saw the missing ingredient in the $84T wearables market: behavior. So they built Emteq and invented smart glasses sensors to track real-time expressions, unlocking insights into why we do things. With a $15M term sheet already secured, Emteq is what Big Tech's missing.

Jeff Bezos, Lauren Sanchez Get Married In A $50 Million Wedding In Venice: From Foam Party On His $500 Million Yatch To Goodie Bags, Here's What We Know

Jeff Bezos and Lauren Sánchez's extravagant $50 million wedding in Venice included a foam party on his $500 million yacht.

After Diddy's conviction, here's where his business ventures stand

LOS ANGELES (AP) — Sean “Diddy” Combs has been in his federal sex trafficking trial, but that doesn't mean the once-celebrated music mogul will see his business empire restored.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Cathie Wood's Alpha Surge: $250 Million Circle Windfall, Big AMD Buys

Cathie Wood, founder and CEO of ARK Invest, has recently been on a hot streak of successful and high-profile trades through her flagship ARK ETFs.

Trump vents online about service provider after conference call marred by glitch

WASHINGTON (AP) — On Monday afternoon, the president of the United States was just another person complaining online about his service provider.

Major Rollout of Social Security X?

Major Rollout of Social Security X? - Ad

Before leaving D.C., Elon Musk may have greenlit "Social Security X"-a digital overhaul backed by Trump. Set to launch as soon as July 23, this shift could impact 72M Americans-and send 3 tiny tech stocks soaring.

This Everyday Investor Built a $2 Million Portfolio From Just One Stock — Here's the Company

An everyday investor has built a $2 million portfolio by investing exclusively in software firm Palantir.

Trump Brokers Peace Deal Between DR Congo And Rwanda — Now Eyes Billions In US Investment

Trump brokers a peace deal between DR Congo and Rwanda, aiming to end conflict and unlock U.S. investment in critical African minerals.

A 64% Dividend From Gold?

A 64% Dividend From Gold? - Ad

Gold is soaring. But here's what no one's talking about: a way to earn a 64% dividend-paid in real cash every 30 days. No trading. No risky mining stocks. Just one simple move in your brokerage account... and you could start collecting monthly income almost instantly.

Asian shares are mixed after US stocks hit an all-time high

BANGKOK (AP) — Asian shares started the week with gains after U.S. stocks closed at an all-time high following their recovery from the shocks of the Trump administration’s

What's in the latest version of Trump's big bill moving through the Senate

WASHINGTON (AP) — Republicans are inching closer to getting their tax and spending cut bill through Congress with a final Senate vote likely late Monday or early Tuesday.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Russian Spy Chief And CIA Director Ratcliffe Agree To 'Call Any Time' Amid Tensions: Report

Russian spy chief Sergei Naryshkin and the Director of the Central Intelligence Agency (CIA), John Ratcliffe, have reportedly agreed to have direct communication at any time.

Senate Republicans are in a sprint on Trump's big bill after a weekend of setbacks

WASHINGTON (AP) — After a weekend of setbacks, the Senate will try to sprint ahead Monday on big bill of despite a series of challenges, including the sudden announcement from that he won't run for reelection after opposing the package over its Medicaid health care cuts.

The Missing Ingredient for Big Tech's $3T Recipe?

The Missing Ingredient for Big Tech's $3T Recipe? - Ad

Big Tech doesn't build everything; they buy what's next. And only Emteq's tech offers real behavior insights for smart glasses, key to unlocking the $3T XR market. Their patented sensors track live facial muscle movements. With health-focused smart glasses in demand, only Emteq has this tech.

Apple Inc. Encouraged To Enter Smart Ring Market Amid Slowing Wearables Revenue

Apple is being urged to consider the development of a smart ring.

Lisa Murkowski Defends Alaska Carveouts As Elizabeth Warren, Bernie Sanders And Rand Paul Condemn Trump's 'Big Beautiful' Bill: 'Not Good Enough For The Rest Of Our Nation'

Senators across party lines are fiercely divided over Donald Trump's $3.3 trillion "Big Beautiful Bill," which narrowly passed the Senate and now heads to the House amid concerns over debt, tax cuts, and social program rollbacks.

Trump Exec Order to Help Restore Wealth for American Citizens?

Trump Exec Order to Help Restore Wealth for American Citizens? - Ad

Thanks to President Trump's Executive Order 14179, a brief "AI Wealth Window" is opening now. Genius investor James Altucher has released 3 AI wealth-building strategies to take advantage of Trump's genius Executive Order 14179. James believes you could see $10,000 grow to $1 MILLION or more over the next few years.

Sam Altman Warns Users Not To Blindly Trust ChatGPT Despite Its Rising Fame, Says 'AI Hallucinates, It Should Be The Tech That You Don't Trust That Much'

Sam Altman, the CEO of OpenAI, has cautioned against the unreserved trust that users have been placing in the company's AI chatbot, ChatGPT, despite its increasing popularity.

Trump's Crypto Ventures, Draper And Cathie Wood's Bitcoin Predictions, MSTR Estimates, And More: This Week In Crypto

The past week in the world of cryptocurrency was nothing short of eventful. From legislative moves aimed at curbing alleged corruption in cryptocurrency ventures to bold predictions about Bitcoin’s dominance, the week was filled with intriguing developments. Here’s a quick recap of the top stories that made headlines.

The Summit That Could Reshape Your Crypto Strategy

The Summit That Could Reshape Your Crypto Strategy - Ad

Join 27 top crypto experts as they reveal the exact tools and frameworks they use to find winning coins. This 3-day online event is free to attend-but the takeaways could be priceless.

Nike soars on a production shift away from China, but it warns of a $1 billion tariff hit

Nike's shares jumped at the opening bell Friday after the company said it's shifting some production away from China. But it also warned that tariffs imposed by the Trump administration will cost it about $1 billion before it makes internal changes, which include “surgical” price increases in the U.S. starting this fall.

Trump's Approval Ratings, Tariff Deadlines, Schumer's Criticism, And Defense Budget Shifts: This Week In Politics

Trump's approval ratings drop after Iran attack, hints at tariff deadline flexibility. SC limits judges' power, Schumer criticizes GOP budget, defense budget shifts to missiles and drones.

A Historic Gold Announcement Is About to Rock Wall Street

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

States brace for impact as Trump's big bill nears completion in Congress

JEFFERSON CITY, Mo. (AP) — President Donald Trump’s and reduce federal spending on some social safety net programs could have large implications for states, but for many it’s too late to do much about it this year.

Elon Musk Says X Will Charge Advertisers By Screen Size To Curb 'Giant Ads' That Hurt User Experience

Elon Musk announced that X will transition to charging advertisers based on vertical screen size, marking a significant shift in the platform's revenue strategy as the company works to restore advertising income to pre-acquisition levels.

FDA Submission Expected This Summer - Invest Before It Happens

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

Asia Markets Mixed, Europe Edges Lower, Dollar Weakens On Rate Cut Bets - Global Markets Today While US Slept

US markets closed higher on Friday with record highs amid trade optimism and Fed rate cuts. Dow up 1%, S&P 500 up 0.54%, Nasdaq up 0.52%.

US-Iran Nuclear Deal In 2025? Crypto Bettors On Polymarket See Strong Chance After Trump's Ceasefire Announcement

Cryptocurrency bettors sharply raised their odds on Monday that the United States and Iran would strike a nuclear deal in 2025 after President Donald Trump confirmed a ceasefire in the ongoing Middle East conflict.

The Unlikely Duo Rethinking Wearable Technology

The Unlikely Duo Rethinking Wearable Technology - Ad

In a blow to Milei, a US judge orders Argentina to turn over its majority stake in state oil company

BUENOS AIRES, Argentina (AP) — The fate of Argentina’s state-run oil company was thrown into doubt Monday as a U.S. judge ordered the cash-strapped country to give up its 51% controlling stake in YPF in partial compensation for seizing the shares of former investors during its 2012 nationalization of the energy group.

Judge allows antitrust lawsuit against Apple to proceed

A federal judge on Monday rebuffed Apple's request to throw out a U.S. government lawsuit alleging the technology trendsetter has built a maze of illegal barriers to protect the iPhone from competition and fatten its profit margins.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

T-Mobile Stock (TMUS) Plunges After SoftBank's $4.8B Share Sale: Report

T-Mobile stock is down over 4% after SoftBank reportedly sold $4.8 billion in shares at a discount. This major share sale by a key investor is contributing significantly to the stock's decline Tuesday.

Japan launches a climate change monitoring satellite on mainstay H2A rocket's last flight

TOKYO (AP) — Japan on Sunday launched a satellite to monitor greenhouse gas emissions using its mainstay rocket, which made its final flight before it is replaced by a new flagship designed to be more cost competitive in the global space market.

Major Rollout of Social Security X?

Major Rollout of Social Security X? - Ad

GSK Rebranded Flovent Asthma Inhaler For Children To Avoid $367 Million Medicaid Rebate, Senator Hassan Accuses

Senator Maggie Hassan is investigating GSK's discontinuation of Flovent HFA, citing increased hospitalizations, higher drug costs, and lost Medicaid rebates.

Trending Now

Ethiopia completes the power-generating dam on the Nile that caused a dispute with Egypt

Trump's 'Big, Beautiful Bill' Offers Seniors A $6,000 'Bonus' Tax Deduction: Here's How You Qualify For The Benefit

A 64% Dividend From Gold? - Ad

Marjorie Taylor Greene: 'Muslim Takeover' Threatens American Women

Mark Cuban Raises Employee Wages After Learning Of Government Aid Dependence

How to Hack a $1.3T Market - Ad

US Stocks Likely To Open Higher, Continuing Record-Setting Advances: June Has Never Seen An All-Time High Since 1950, Highlights Expert

The Summit That Could Reshape Your Crypto Strategy - Ad

Cargo ship carrying new vehicles to Mexico sinks in the North Pacific weeks after catching fire

Scott Bessent On Replacing Powell As Fed Chair: 'I Will Do What The President Wants' — Plays Down Shadow Chair Speculations

A Historic Gold Announcement Is About to Rock Wall Street - Ad

Dave Ramsey Suggests Pausing Retirement Savings To Speed Up Home Down Payment, Warns 'Don't Borrow From or Cash Out Your Retirement Accounts To Speed Up Your Down Payment Savings'