MSTR shares trade at $97.33 with a $232.50 consensus target, even after a 75% 12-month decline and an $8.32 billion Q2 unrealized loss.
MicroStrategy (NASDAQ:MSTR) reported a 75.37% decline over the past 12 months, underperforming bitcoin’s 46.14% drop. The company posted a GAAP loss of $24.45 per share, missing consensus estimates by 895.30%, driven by an $8.32 billion unrealized loss on digital assets under fair-value accounting rules. Revenue rose 6.9% year over year to $122.37 million but fell short of the $124.48 million forecast.
Despite the losses, 14 of 15 analysts rate MSTR a Buy, with a consensus price target of $232.50, implying 138.88% upside. Benchmark’s Mark Palmer set a $435 target, suggesting 347% potential gains, outpacing peers like Marathon Digital (90%) and Coinbase (31%). The company holds 846,000 BTC, making it the largest corporate bitcoin holder and a leveraged proxy for crypto exposure.
Risks include potential MSCI index removal, dilution, and growing preferred obligations, which could further erode capital. MSTR’s stock currently trades at $97.33, reflecting ongoing volatility in both its bitcoin holdings and legacy software business.