Analyst slashes MicroStrategy price ahead of Q4 earnings

Analysts person trimmed the banal terms people of Michael Saylor's MicroStrategy, present known arsenic Strategy (NASDAQ: MSTR).

The lowering comes contempt the company's assertive propulsion to summation its Bitcoin holdings.

On Jan. 15, Strategy besides announced that its fourth-quarter net volition beryllium reported connected Feb. 5, close aft marketplace close.

Related: The lone happening amended than Bitcoin is...MSTR?

2026 has been going beauteous good for Strategy.

On Jan. 7, it escaped getting delisted aft MSCI announced it would not exclude integer plus treasuries (DATs) from its indices.

A DAT institution hoards crypto assets to adhd to its firm equilibrium sheet. The mode different nationalist companies clasp currency connected their equilibrium sheets, a DAT institution holds cryptocurrencies connected its equilibrium sheet.

MicroStrategy, primitively founded arsenic a bundle company, pivoted to a Bitcoin-focused DAT during the pandemic.

Now, it is the largest firm Bitcoin holder. As of Jan. 15, its Bitcoin treasury boasts 687,410 BTC.

Between Jan. 5 and Jan. 11, Strategy besides made the biggest Bitcoin acquisition since July 2025 by scooping up 13,627 BTC for $1.25 billion.

In a caller podcast, Saylor reasserted their Bitcoin acquisition mantra amid a rising fig of Bitcoin treasuries.

"Everybody successful the satellite tin bargain Bitcoin arsenic portion of their investment, but not everybody's going to person arsenic overmuch arsenic me."

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TD Cowen lowered its terms people for Strategy from $500 to $440 portion maintaining a "buy" rating, The Block reported connected Jan. 14.

This is the 2nd clip successful 2 months that TD Cowen has revised MSTR's terms target. Previously, connected Dec. 4, it had slashed the terms people from $550 to $500.

The firm’s analysts, Lance Vitanza and Jonnathan Navarrete, cited near-term unit connected cardinal show metrics owed to caller Bitcoin terms weakness.

In a probe enactment published connected Jan. 14, TD Cowen analysts said Strategy “has not lone survived this latest play of terms compression; it has leaned into it.”

According to TD Cowen, the revised banal terms people accounts for the near-term effects of Strategy’s accelerated Bitcoin accumulation connected its fiscal modeling.

The analysts highlighted that the institution continued purchasing Bitcoin during the caller terms dip, accordant with its semipermanent strategy.