MSFT Stock Gets Wall Street’s Attention Ahead Of Earnings: Truist, Oppenheimer Raise Targets On Azure Growth Outlook

• Oppenheimer raised its price target to $625 from $570 and maintained an ‘Outperform’ rating on the stock.
• According to Koyfin, 41 of 57 analysts rate MSFT ‘Buy’ and 13 rate it ‘Strong Buy’.
• Microsoft is scheduled to report fiscal first-quarter 2027 results on October 28, with analysts expecting revenue of $90.75 billion and earnings of $4.72, according to estimates compiled from Fiscal.AI.

Microsoft Corp. (MSFT) shares drew investor attention on Monday after the stock received price target hikes ahead of the company’s fiscal first-quarter results.

According to The Fly, Oppenheimer raised its price target to $625 from $570 and maintained an ‘Outperform’ rating, while Truist analyst Terry Tillman raised his target to $600 from $575 and maintained a ‘Buy’ rating.

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MSFT shares traded marginally higher at the time of writing.

According to Koyfin data, 41 out of 57 analysts rate the stock ‘Buy’, and 13 rate it ‘Strong Buy’. Their 12-month price targets range from $440 to $870, with an average of 602.20. 

Oppenheimer Sees Enterprise Demand Supporting Azure

According to The Fly, Oppenheimer’s checks indicate healthy enterprise demand, supporting sustained momentum in Azure and Microsoft 365, alongside a favorable earnings setup. 

The firm said infrastructure availability, rather than demand, remains the primary constraint on Azure growth. It sees a path for Azure and Microsoft 365 growth to accelerate as additional capacity comes online this and next fiscal year, according to The Fly.

According to a report by Investing.com, Oppenheimer forecasts Microsoft’s fiscal first-quarter revenue at $90 billion, implying a 16% year-over-year growth, and GAAP earnings of $4.69 per share. The analyst also estimates Azure revenue growth of 46% in constant currency for the first quarter, compared with buy-side expectations of 47%, the report added.

Oppenheimer identified Microsoft’s fiscal 2027 capital expenditure requirements as a key risk to monitor, according to Investing.com. The firm also sees Copilot’s expansion beyond seat-based pricing, with monetization linked to users and workloads, as a potential driver of Microsoft 365 Commercial Cloud growth, according to the report. 

Truist Expects Azure Growth To Remain Elevated

According to The Fly, Truist expects Azure growth to accelerate in the fiscal first quarter and is increasingly confident that growth will remain elevated for longer.

The firm expects continued AI and agentic momentum, citing Copilot and Microsoft’s role as the “harness/orchestration/control plane” for a growing range of first and third party AI workloads, The Fly reported.

Truist said long-term durable growth, Azure efficiencies and high-value franchises such as Microsoft 365 could continue to support one of the strongest free cash flow profiles in AI on a relative basis, according to The Fly.

When Is MSFT Reporting Earnings?

Microsoft is scheduled to report its fiscal first-quarter 2027 results after the market closes on Wednesday, October 28.

Analysts expect Microsoft’s fiscal first-quarter revenue of $90.75 billion and adjusted earnings of $4.72 per share, according to estimates compiled by Fiscal.AI. 

How Retail Views MSFT

On Stocktwits, sentiment for MSFT remained in ‘bearish’ territory amid ‘normal’ message volumes in the past 24 hours. 

One user said Microsoft’s stock was seeing upside price discovery going into earnings.

MSFT shares have gained over 8.7% year-to-date.

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