Microsoft stock has rallied 37% this year. Now it could reach new highs by skleb1234
Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty ImagesFollowing up on impressive earnings last quarter, software giant Microsoft recently announced a share buyback plan that helped send its stock soaring to new highs.
Microsoft stock just hit its highest level in the last twelve months—breaking the $142 per share mark in day trading.that it plans to buy back up to $40 billion in stock and raise its quarterly dividend 11%. The company is well-known for sharing cash with shareholders in the past, having authorized buybacks of similar magnitude in 2013 and again in 2016.
The news sent the stock up by over 1.5% on Thursday, which helped lead the market higher in the wake of theMicrosoft has posted strong earnings growth in recent months, in large part thanks to a bet on its developing cloud-computing business that helped drive record revenue. Azure, Microsoft’s popular cloud service, is now second in size only to Amazon.com’s AWS.
Microsoft is the largest publicly traded company, valued at just over $1 trillion according to FactSet. That beats Apple, valued at around $999 billion, and Google, at $857 billion.Wall Street thinks the stock could go even higher, with over 90% of analysts giving Microsoft a “buy” rating, according to Bloomberg data.
Morningstar analyst Dan Romanoff predicts plenty of upside, putting Microsoft’s price target at $155 per share: the company is “firing on all cylinders.” He highlights the success of CEO Satya Nadella since he took the helm in 2014; he has “reinvented Microsoft into a cloud leader,” he wrote.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Microsoft Stock Has Rallied 37% This Year. Now It Could Reach New Highs.Microsoft, the Redmond, Washington-based software giant, is following up impressive earnings last quarter with its highest per share stock price in twelve months:
Consulte Mais informação »
Microsoft Stock Has Rallied 37% This Year. Now It Could Reach New Highs.Shares of the software giant could go even higher.
Consulte Mais informação »
Everything Jim Cramer said about the stock market on 'Mad Money,' including the upcoming Fed meeting, Microsoft and Apple, Pelosi interviewJim Cramer explains what to expect from the Federal Reserve's September meeting, why Microsoft and Apple's stock could soon pop, and his wide-ranging interview with House Speaker Nancy Pelosi.
Consulte Mais informação »
Stock of Olive Garden's parent tumbles 3% after revenue missShares of Darden Restaurants fell as much as 5% Thursday morning after the parent company of Olive Garden reported slower-than-expected sales growth.
Consulte Mais informação »
FedEx Stock Falls 14% After Missed Earnings And Grim Outlook On Global TradeThe company took a hit from trade disputes and the loss of its Amazon business.
Consulte Mais informação »
Roku Sees Streaming Topping Pay-TV By 2024 But Stock Dives On Facebook, Comcast NewsRoku issued research Wednesday that forecasts TV viewing via streaming will exceed pay-TV viewing by 2024, but the company’s stock dropped sharply after Facebook and Comcast made streaming ne…
Consulte Mais informação »