Cantor Fitzgerald has reaffirmed its buy rating for MicroStrategy, maintaining a price target of $208 per share. Analyst Ramsey El-Assal confirmed this stance in a note released on November 9, 2026, which represents an Overweight rating. This target suggests a potential upside of approximately 61% based on recent trading levels.
The valuation model relies on a sum-of-the-parts approach. Cantor values the company's software business at twice the projected 2027 sales of $509 million. Additionally, the firm accounts for MicroStrategy’s holdings of approximately 848,000 BTC, as of mid-October 2026.
A key component of the valuation is the 12-month forward projection for Bitcoin, which Cantor raised to $112,000 from $98,000. Combining the software business and the Bitcoin holdings, the firm estimates an enterprise value of $110 billion for the company.
Market consensus remains varied, with average price targets ranging from $244 to $333. Other firms have recently adjusted their outlooks, such as BTIG, which maintains a $250 target, and B. Riley, which lowered its target to $180 on November 3, 2026.
