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Wedbush analyst Dan Ives called Microsoft (MSFT) the ‘Scottie Scheffler’ of software ahead of the tech giant’s latest quarter earnings next week.
“The Scottie Scheffler of software is firing on all cylinders as this cloud stalwart is front and center as the core AI enterprise foundation,” he wrote in a post on X. According to Ives, Microsoft is on track to “deliver another robust quarter” driven by the progress around artificial intelligence (AI).
Microsoft’s stock edged 0.3% higher in pre-market trade on Friday. On Stocktwits, retail sentiment around the company moved up to the ‘bullish’ zone from ‘neutral’ a day ago amid ‘high’ levels of chatter.
The Magnificent Seven company is scheduled to report its fourth-quarter (Q4) earnings after the bell on Wednesday next week. Wall Street analysts expect to see earnings of $3.38 per share on revenue of $73.8 billion.
Microsoft recently made headlines as a major SharePoint vulnerability was exploited by hacker groups, resulting in at least 400 victims, which reportedly include U.S. federal agencies such as the National Nuclear Security Administration and the Department of Energy.
However, analysts remain bullish on the company’s overall performance. Evercore ISI raised its price target on Microsoft to $545 from $515 on Wednesday, while maintaining an ‘Outperform’ rating on the shares, according to TheFly. The brokerage said that Azure’s growth is likely to be the headline of the company’s earnings.
Microsoft’s stock has gained more than 20% this year so far, and 15% over the past 12 months. Get updates to this developing story directly on Stocktwits.
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