Microsoft Corporation (NASDAQ:MSFT) and General Electric Company (NYSE:GE) have signed an agreement to deliver Microsoft’s cloud productivity suite Office 365 to GE’s more than 300,000 employees across 170 countries worldwide.
“As we deepen our investments in employee productivity, Microsoft’s innovative approach to collaboration made Office 365 our first choice for providing scalable productivity tools to our employees worldwide,” said Jamie Miller, senior vice president and CIO of GE.
GE’s IT organization, which is recognized as one of the most strategic and forward-thinking among large enterprises worldwide, selected Office 365 based on Microsoft’s ability to deliver rich productivity experiences at massive scale across devices and platforms, as well as its ability to rapidly and reliably deploy to GE’s large global employee population. Specifically, Office 365 will provide several key benefits to GE and its employees, including these:
- A comprehensive and integrated set of productivity capabilities including email, Skype for Business calling and meetings, real-time document co-authoring, and team collaboration
- Extensibility of the Office 365 platform, which will enable GE to enhance the capabilities of critical line-of-business applications by connecting to Office 365 through open APIs
- IT controls and security capabilities that enable GE to provide employees with secured access to information and full productivity capabilities on a multitude of devices, while adhering to corporate policies, industry regulations and legal requirements
“Microsoft and GE share many values in common — openness, transparency, data-driven intelligence and innovation — all of which are driving forces behind Microsoft’s own mission to help people and organizations achieve more,” said John Case, corporate vice president of Microsoft Office. “As one of the most innovative companies in the world, GE understands what it takes to unleash the potential of its employees. We’re delighted GE has selected Office 365 as the productivity and collaboration solution to empower its global workforce.” (Original Source)
Shares of Microsoft closed last Friday at $46.62. MSFT has a 1-year high of $50.05 and a 1-year low of $40.12. The stock’s 50-day moving average is $45.66 and its 200-day moving average is $44.38.
On the ratings front, Microsoft has been the subject of a number of recent research reports. In a report issued on July 17, Deutsche Bank analyst Karl Keirstead maintained a Buy rating on MSFT, with a price target of $55, which represents a potential upside of 18.0% from where the stock is currently trading. Separately, on the same day, FBR’s Daniel Ives reiterated a Buy rating on the stock and has a price target of $53.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Karl Keirstead and Daniel Ives have a total average return of 12.6% and 9.3% respectively. Keirstead has a success rate of 62.5% and is ranked #398 out of 3712 analysts, while Ives has a success rate of 66.7% and is ranked #369.
The street is mostly Bullish on MSFT stock. Out of 24 analysts who cover the stock, 13 suggest a Buy rating , 7 suggest a Hold and 4 recommend to Sell the stock. The 12-month average price target assigned to the stock is $47.57, which represents a slight upside potential from current levels.