#2 - Microsoft (NASDAQ:MSFT)
You’ll have to act quickly, but as of July 31, 2024, Microsoft Corp. (NASDAQ: MSFT) is flashing a rare oversold signal. The reason comes from the company’s earnings report, which it delivered on July 30. The company beat on the top and bottom lines, and the numbers are higher YOY.
But the tech giant guided to slightly lower cloud revenue for the remainder of 2024 and that was enough to get some investors to take profits on MSFT stock, which hit a 52-week high around $467 earlier in July. However, like many technology stocks, Microsoft stock was trending lower before earnings, suggesting some profit-taking was going on.
The Microsoft analyst forecasts on MarketBeat show some price targets being raised and some being lowered. But the new price targets are all higher than the consensus price target, which suggests that this dip in MSFT stock will only be temporary.
About Microsoft
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.
Read More - Current Price
- $417.00
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 27 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $503.03 (20.6% Upside)
