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

Retirement Planning for 2025 -- Act Now! - Ad

Crypto Stocks Are Heating Up - Ad

Critical Metals: The Linchpin of the Energy Transition - Ad

Hedge fund manager Stanley Druckenmiller regrets the decision to sell his fund's stake in Nvidia.

SpaceX launches colossal Starship rocket and catches it for 2nd time with robotic arms

For the second time, used giant mechanical arms to catch its Starship rocket back at the pad minutes after liftoff Thursday.

He Called Bitcoin to $100k... Now He Says This Coin Is Next

He Called Bitcoin to $100k... Now He Says This Coin Is Next - Ad

Juan Villaverde may be America's top crypto expert. According to Juan's timing model, we are entering what could be the biggest bull market in crypto's history. With America's first crypto president in office, it could be the biggest gains the market has ever seen. And one special coin could skyrocket.

Two private lunar landers head toward the moon in a roundabout journey

CAPE CANAVERAL, Fla. (AP) — In a two-for-one moonshot, SpaceX launched a pair of lunar landers Wednesday for U.S. and looking to jumpstart business on .

Trump promotes new meme coin before taking office on pro-crypto agenda

President-elect Donald Trump has launched a new token that is soaring in value – and potentially boosting his net worth – just before his inauguration. It’s the latest norm-defying promotion by Trump, who has also helped sell branded gold and diamond-encrusted .

Rural Texas Town Ramps Up Global Currency War

Rural Texas Town Ramps Up Global Currency War - Ad

A small town has joined a radical $1.9 trillion attack on the global banking system... backed up by Elon Musk and the White House.

Elon Musk's DOGE Co-Lead Vivek Ramaswamy Expected To Exit Trump Admin Task Force Amid Ohio Governorship Bid

Vivek Ramaswamy, co-leader of President-elect Donald Trump's Department of Government Efficiency, is expected to step down from his position, potentially complicating the administration's ambitious federal spending reduction goals.

Southern Power Grids Face Historic Winter Test As Snow Blankets Gulf Coast: 5 Utilities To Watch

Unprecedented winter storm strikes southern US, blanketing the region in snow and causing widespread power outages and transportation disruptions.

Is This Defi Coin Your Next "10-Bagger" Investment?

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Europe posts record year for clean energy use as Trump pulls US toward fossil fuels

A record 47% of the European Union’s electricity now comes from solar and other renewables, a report Thursday said, in yet another sign of the growing gap between the bloc's push for clean energy and the new U.S. administration's pursuit of more fossil fuels.

Rashida Jones stepping down as MSNBC president on eve of Trump inauguration

MSNBC President Rashida Jones says she is stepping down after four years leading the liberal news network — an announcement thtat takes place on the eve of a second Trump administration and after changes in corporate ownership.

The VIP Strategy Behind iGaming's Best Stock

The VIP Strategy Behind iGaming's Best Stock - Ad

NJ's record $2.4B iGaming revenue proves the market is booming. One company targeting high-value players boasts $2.13 ROI, double retention rates, and entry into a $12B Latin American market. With growth catalysts ahead, this stock is one to watch.

Microsoft, Applied Digital, Rigetti Computing, Eli Lilly, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Tuesday, Jan. 13, 2024 MSFT, APLD, RGTI, LLY, TSLA were among the stocks trending with investors.

Donald Trump And JD Vance's Official Portraits: Mugshot Meme Vs Smiling Boy Scout?

President-elect Donald Trump and his incoming VP JD Vance debuted their new presidential and vice presidential portraits last week and, well, they could not have been more different.

Trump's Quiet $1.9 Trillion Move Against the Fed

Trump's Quiet $1.9 Trillion Move Against the Fed - Ad

A small army of Americans, with Trump's support, has launched a $1.9 trillion move against the Fed. What comes next could have dramatic consequences.

The Czech Republic ends its energy dependence on Russian oil imports

PRAGUE (AP) — The Czech Republic has boosted its energy security by completing a project to finish the country’s dependence on oil delivery from Russia, the government said on Tuesday.

BrightSpring Health Divests Community Living Business For $850 Million To Focus On Core Activities

BrightSpring will sell its Community Living business to Sevita for $835M in a deal set to close in 2025, boosting operational focus and revenue growth projections.

"One Stock Gold Blueprint" REVEALED

"One Stock Gold Blueprint" REVEALED - Ad

Gold soared to historic highs in 2024. But if you think you missed out, think again. Because millionaire trader Jeff Clark recently revealed his strategy to profit from gold -- no matter what the market is doing. It all comes down to focusing on one stock -- just one -- to profit from ANY movement in gold.

FACT FOCUS: A look at false and misleading claims Trump made during his inaugural address

In his first address after being on Monday, President Donald Trump repeated several false and misleading statements that he made during his campaign. They included claims about immigration, the economy, electric vehicles and the Panama Canal. Here’s a look at the facts.

Bitcoin, Ethereum, Dogecoin Retrace From Pre-Inauguration Highs As Trump Skips Crypto Mention: Analyst Highlights BTC Consolidation In $101K-$106K Range

Leading cryptocurrencies failed to rally as expected on Monday after Donald Trump was sworn in as the 47th president of the U.S.

Get Your Retirement Plan in Shape in 2025

Get Your Retirement Plan in Shape in 2025 - Ad

The clock is ticking -- make the most of Q1 to set up a retirement plan that works for you. Datalign Advisory can help you get everything in order before tax time.

Head of US cybersecurity agency says she hopes it keeps up election work under Trump

NEW YORK (AP) — Jen Easterly, the outgoing head of the U.S. government’s Cybersecurity and Infrastructure Security Agency, said Wednesday she hopes her agency is allowed to continue its under new leadership despite “contentiousness” around that part of its mission.

Amazon's Zoox Plans To Launch Robotaxi Service This Year

Zoox, a robotaxi company owned by Amazon, plans to launch robotaxi service in Las Vegas in 2025.

Elon Musk's Critical Metals Warning: What Investors Need to Know

Elon Musk's Critical Metals Warning: What Investors Need to Know - Ad

Elon Musk has repeatedly warned about the looming critical metals crisis, calling materials like nickel, copper, and PGMs essential to Tesla's future. One Canadian discovery in Quebec is drawing comparisons to Russia's Norilsk Mine and has the potential to reshape global supply chains. With heavyweight backers and a fully funded exploration plan, this opportunity demands attention.

Content creators respond to TikTok's uncertain future in the US

TikTok content creators who make a living promoting their businesses and personal brands on the app were afraid Sunday that they would have to find new ways to engage consumers and make money as the app's future in the United States remained uncertain.

Biden warns the US risks becoming an 'oligarchy.' What does the term mean?

WASHINGTON (AP) — President in his Wednesday farewell speech to the nation warned that American democracy was sliding into an “oligarchy” of tech billionaires. But what exactly is an oligarchy?

NJ's $2.4B iGaming Boom: One Stock to Watch

NJ's $2.4B iGaming Boom: One Stock to Watch - Ad

The iGaming market is rewriting the rules, with New Jersey hitting $2.4B in revenue last year. One company stands out, delivering $2.13 for every $1 spent and expanding into lucrative markets.

Michael Saylor's MicroStrategy Not Alone In Bitcoin Acquisition, Says Bitwise Chief Investment Officer: 'It's A Bona Fide Megatrend'

Bitwise Chief Investment Officer Matt Hougan argued on Tuesday that associating the Bitcoin (CRYPTO: BTC) Treasury reserve strategy solely with MicroStrategy Inc. (NASDAQ:MSTR

Poland's leader accuses Russia of planning acts of terror against 'airlines over the world'

WARSAW, Poland (AP) — Polish Prime Minister Donald Tusk accused Russia on Wednesday of planning acts of sabotage worldwide that included “acts of air terror” against airlines.

Consistent Profits Every Day

Consistent Profits Every Day - Ad

LitePips EA delivers steady profits with no risky strategies like Grid, Arbitrage, Scalping or Hedge. Enjoy stable trading with fixed Stop Loss and Take Profit, over 62% WinRate, DrawDown below 32% and 100%+ annual returns. Not forget about tools like spread filters, slippage protection, and equity safeguards, it's the perfect choice for XAUUSD H1 traders.

Rick Owens brings a bold dystopian vision to Paris Fashion Week

PARIS (AP) — Rick Owens brought a bold, dystopian energy to on Thursday, turning the Palais de Tokyo into a stark, industrial stage.

Trump Reportedly Planning To Declare Crypto As National Priority Through Executive Order

President-elect Donald Trump is set to issue an executive order to declare cryptocurrency as a national priority and incorporate industry experts into his administration, according to a Thursday report.

Crypto Stocks Surge Amid Market Boom

Crypto Stocks Surge Amid Market Boom - Ad

Crypto stocks are on fire as Bitcoin hits all-time highs. One under-the-radar company is leading the charge, managing $2.1 billion in client assets and seeing record trading volumes. With crypto adoption skyrocketing, this could be a game-changing opportunity.

Musk's straight-arm gesture embraced by right-wing extremists regardless of what he meant

NEW YORK (AP) — Right-wing extremists are celebrating Elon Musk’s straight-arm gesture during a speech Monday, although his intention wasn't totally clear and some hate watchdogs are saying not to read too much into it.

Prince Harry's lawsuit against The Sun is part of a long saga of alleged tabloid misbehavior

LONDON (AP) — trial against the publisher of The Sun, which opens Tuesday, follows over the cutthroat practices of the British press in the days when newspapers sold millions of copies and shaped the popular conversation.

Get Your Retirement Plan in Shape in 2025

Get Your Retirement Plan in Shape in 2025 - Ad

The clock is ticking -- make the most of Q1 to set up a retirement plan that works for you. Datalign Advisory can help you get everything in order before tax time.

Taiwanese chipmaker TSMC posts 57% surge in profit thanks to the AI boom

HONG KONG (AP) — Taiwan computer chip maker TSMC reported Thursday that its profit in the last quarter rose 57%, buoyed by the

Marc Benioff Trashes Microsoft Copilot, Says Salesforce Is Becoming A Digital Labor Provider: 'This Is What AI Was Meant To Be'

Salesforce Inc (NYSE:CRM) co-founder, chairman and CEO Marc Benioff took a shot at Microsoft Corp (NASDAQ:MSFT) while laying out his vision for the future of AI Wednesday in a CNBC interview from the World Economic Forum.

The Stock Driving iGaming's Success

The Stock Driving iGaming's Success - Ad

iGaming is thriving, with NJ hitting $2.4B in revenue. One company leads the pack with 20% retention rates, 60% growth, and expansion into new markets. Tight insider ownership make this stock a standout.

Trump's first day actions loom large as Davos begins

DAVOS, Switzerland (AP) — As the World Economic Forum’s annual gabfest gets into full swing Tuesday, gave everybody something to talk about with his actions on his first day back in office.

Trending Now

This Analyst With 86% Accuracy Rate Sees Around 18% Upside In Bank of America - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts