The stock of Microsoft Corporation (NASDAQ:MSFT) is now priced at $225.53 and the shares are -3.38 points down or -1.48% lower compared to its previous closing price of $228.91. The stock had 28.774 million contracts set over the past session. MSFT shares’ daily volume is compared to its average trading volume at 34.361 million shares. However, it has a float of 7460 million and although its performance was 5.54% over the week, it’s one to watch. Analysts have given the MSFT stock a yearly average price target of $226.93 per share. It means the stock’s upside potential is 0.62% with the MSFT share price recently placing at $224.31 to $228.7. However, some brokerage firms have priced the stock below the average, including one that has called $208.
The shorts are running away from the Microsoft Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the MSFT shares have declined. Short interest in the stock represents just 0.4% of its float, but the volume has dropped by -6838031. The volume of shorted shares dropped to 29.634 million from 36.472 million shares over the last two weeks. The average intraday trading volume has been 34.074 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Microsoft Corporation (NASDAQ:MSFT) raised by $11.84 over the week and gained $8.99 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $231.15. The stock recorded its established 52-week high on 08/27/20.
Since 03/23/20, the stock has traded to a low of $132.52 at 70.19%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.9. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Microsoft Corporation’s two-week RSI is 64.67. This suggests that the stock is neutral at the moment and that MSFT shares’ price movement remains stable. The stochastic readings are equally revealing at 84.8% meaning the MSFT share price is currently in oversold territory.
The technical chart shows that the MSFT stock will likely settle at between $228.05 and $230.57 per share. However, if the stock dips below $223.66, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $221.79.
Currently, the stock is trading in the green of MACD, with a reading of 8.16. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Oppenheimer cut their recommendation for MSFT from Outperform to Perform in July 23 review. Stifel analysts see the stock as a Buy, but they also raised the share’s target price from $200 to $215 in a flash note released to investors on July 20. BMO Capital Markets analysts see the stock as Outperform. Nonetheless, the analysts revised the share prices up on July 15, placing it at $235 from $212.
The average rating for the MSFT equity is 1.69 and is currently gathering a bullish momentum. Of 36 analysts tracking Microsoft Corporation polled by Reuters, 4 rated MSFT as a hold. The remaining 32 analysts were split evenly. However, the split wasn’t equal as a majority (32) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the MSFT stock price is 30.74X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 39.2 below the group’s average of 40.3. Microsoft Corporation has its P/E ratio at 14.4, which means that the stock is currently trading at a premium relative to the 13.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Microsoft Corporation (NASDAQ:MSFT) will decrease by about -6.16%, which will see them reach $35700 million. The company’s full-year revenues are, however, expected to increase by about 9.57%, up from $143000 million to $157000 million. MSFT’s expected adjusted earnings should surge almost 11.59% to end up at $1.54 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 12.15% to record $6.46/share.