Tigress Research analyst Ivan Feinseth was out pounding the table on shares of Microsoft Corporation (NASDAQ:MSFT) Wednesday, reiterating a Buy rating, as the software giant’s business performance continues to accelerate driven by strong revenue growth across all key product lines.
Feinseth wrote, “Revenue and Economic Profit grew significantly Y/Y, driven by ongoing benefits from strategic growth, new product development, and marketing initiatives. MSFT is benefiting from growth in LinkedIn and new product introductions including new Surface tablets and Windows 10 PCs. MSFT also announced recent blockchain development partnerships with Accenture and Hapoalim using its new Coco framework. Accelerating adoption of Azure and Office 365 continue to be key catalysts and tailwinds for future growth. MSFT continues to announce new Azure adoptions and collaborations with key cloud service providers. We further believe new strategic initiatives in augmented and virtual reality along with increasing AI integration will continue to be future growth drivers. MSFT market-leading position and innovative ability will continue to generate increasing Economic Profit and greater shareholder value creation. We believe further upside exists from current levels.”
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Feinseth’s picks have a 17 percent one-year average return with a 69 percent success rate, placing him in the top 3 percent of all Wall Street analysts covering any industry.
If we turn to the Street in general, we can see that the stock also has a Strong Buy analyst consensus rating. In the last three months, MSFT has received 19 buy, 2 hold and 1 sell ratings. These analysts have an average price target on the stock of $103.62. Given that MSFT is currently trading at $90.81 this suggests upside from the current share price of close to 14%.