Why Microsoft Stock Is Skyrocketing Today
(NASDAQ: MSFT) stock is shooting higher in Thursday's trading after the company published strong quarterly results. The tech giant's company's share price was up 9.2% as of 12:15 a.m. ET and had been up as much as 10.6% earlier in the session.
After the market closed yesterday, Microsoft released results for the third quarter of its current fiscal year, which ended March 31. The company posted better-than-expected sales and earnings, driven by impressive growth for its Azure cloud infrastructure business, and issued encouraging forward guidance.
In fiscal Q3, Microsoft posted earnings per share of $3.46 on sales of $70.06 billion. For comparison, the average analyst estimate had called for the business to report per-share earnings of $3.22 on sales of $68.44 billion.
Source Fool.com
Microsoft Corp. Stock
Currently there is a rather positive sentiment for Microsoft Corp. with 158 Buy predictions and 6 Sell predictions.
As a result the target price of 503 € shows a positive potential of 44.29% compared to the current price of 348.6 € for Microsoft Corp..
