Wedbush Raises Microsoft Price Target After $2 Trillion Market Cap

Wedbush Securities has raised Microsoft’s target price from $310 to $325 after the company became the third to cross the $2 trillion mark....
Wedbush Raises Microsoft Price Target After $2 Trillion Market Cap
Written by Matt Milano

Wedbush Securities has raised Microsoft’s target price from $310 to $325 after the company became the third to cross the $2 trillion mark.

Microsoft made headlines yesterday when it became only the third company to have a market capitalization of $2 trillion, behind Saudi Aramco and Apple. The company has been firing on all cylinders in recent years, thanks to the leadership of CEO Satya Nadella.

Wedbush has been bullish on Microsoft for some time, largely on the strength of its cloud platform. The firm is once again raising its price arget following yesterday’s news, from $310 to $325 per share.

“While many tech stocks overall are all being lumped together as part of the WFH trade, we believe the growth story at Microsoft is not slowing down as more enterprises/governments head down this cloud path over the coming years,” Wedbush analyst Dan Ives wrote, via TheStreet.

TheStreet’s Jim Cramer echoed those sentiments, believing Microsoft’s shares are still undervalued. He said the company “has moved up on a delayed action to its great quarter. It remains inexpensive despite its historic growth rate and its consistency. And do I care that [CEO Satya Nadella] was named chairman? Hey, listen, we have stocks that go up like that, naming guys chairman every day of the week.”

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