Microsoft Corporation (NASSAQ:MSFT) shares are in the spotlight Tuesday ahead of fourth quarter earnings. Here’s what you need to know.
What To Know: Analysts estimate earnings per share of $3.37 and revenue of $73.80 billion. The company reported third-quarter earnings of $3.46 per share, topping the $3.22 estimate, and revenue of $70.07 billion, beating the $66.43 billion estimate.
Microsoft has a strong track record of beating both earnings per share and revenue guidance.
Analyst Changes: Ahead of the earnings report, multiple analysts issued price target adjustments.
- Raymond James analyst Andrew Marok maintained an Outperform rating on Microsoft and raised the price target from $490 to $570.
- Stifel analyst Brad Reback maintained a Buy rating on Microsoft and raised the price target from $500 to $550.
- Wedbush analyst Daniel Ives reiterated an Outperform rating on Microsoft and maintained a $600 price target.
- Evercore ISI Group analyst Kirk Materne maintained an Outperform rating on Microsoft and raised the price target from $515 to $545.
- Loop Capital analyst Yun Kim maintained a Buy rating on Microsoft and raised the price target from $550 to $600.
The consensus estimate for Microsoft is $554.61, with the lowest price target at $475 and the highest price target at $613.
Microsoft is expected to report earnings on Wednesday after the market closes.
Related Link: Nvidia Is Now Worth Twice Tesla, AMD, Palantir, And Intel Combined
MSFT Price Action: At the time of writing, Microsoft shares are trading 0.32% higher at $514.09, according to data from Benzinga Pro.
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