MicroStrategy, now Strategy (MSTR), received a stock upgrade from TD Cowen, raising the price target to a Street high of $680 due to optimism about its Bitcoin operations. The company acquired 4,225 BTC for $472.5 million, solidifying its position as the largest corporate holder of Bitcoin. Strategy’s market cap is $115 billion.

Strategy is actively buying Bitcoin and raised capital through a $4.2 billion offering to acquire more. Revenues declined 3.6% to $111.1 million in Q1 2025, but subscription services grew by 61.6% to $37.1 million. The company reported a 13.7% BTC Yield and plans to increase it to 25%.

Analysts expect Strategy’s loss per share to narrow by 84% annually in Q2, with a projected profit of $7.30 per share. Wall Street analysts are bullish on Strategy, with price target upgrades from Barclays, Cantor Fitzgerald, and H.C. Wainwright. The consensus is a “Strong Buy” with a target of $543.62.

Strategy stock is trading at 266 times sales, well above the industry average. Despite this, analysts are confident in the company’s strategic direction and performance forecasts, leading to upgrades in price targets. Strategy is positioned to maintain its premium NAV and continue purchasing BTC.

Read more at Yahoo Finance: Why This Analyst Thinks MicroStrategy Stock Can Soar to a New Street-High Target of $680