MicroStrategy Incorporated ( MSTR ) shares are trading flat Friday after the company announced pricing of its offering of convertible senior notes.

The Details:

MicroStrategy ( MSTR ) announced the pricing of its offering of $525 million aggregate principal amount of 0.875% convertible senior notes due 2031. The company also granted an option to purchase up to an additional $78.75 million aggregate principal amount of the notes. 

The offering was upsized from the previously announced offering of $500 million aggregate principal amount of notes and is expected to close on March 18, subject to satisfaction of customary closing conditions. 

MicroStrategy ( MSTR ) intends to use the proceeds from the sale of the notes to acquire additional Bitcoin and for general corporate purposes.

As of March 10, MicroStrategy ( MSTR ) held an aggregate of approximately 205,000 bitcoins at an average purchase price of approximately $33,706 per coin.

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MSTR Stock Prediction 2024:

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of MicroStrategy ( MSTR ) have an average 1-year price target of $1,387.00, representing an expected downside of 14.73%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on MicroStrategy ( MSTR ), while 3 analysts have bullish ratings. The street high price target from Canaccord Genuity is $1,810, while the street low from Canaccord Genuity is $791.

MSTR Price Action: According to Benzinga Pro, MicroStrategy ( MSTR ) shares are up 0.49% at $1,685.09 at the time of publication.

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