Microsoft News and Analysis: After Q1 fiscal earnings, MSFT price rises above R2 pivot, targets $330

  • Microsoft beats revenue estimates by $1.3 billion.
  • MSFT average price target rises to $351.95.
  • The software giant stock has traded within ascending trend channel all year.

Microsoft did what it typically does, beating Wall Street estimates for the first fiscal quarter of 2022 on Tuesday after the market closed. Non-GAAP earnings per share (EPS) came in at $2.27, comfortably above expectations of $2.08. Revenue came in at $45.3 billion, above analyst consensus of $44 billion, for a 22% gain YoY.

Cowen & Co. raised their target from $320 to $360; BMO, from $325 to $355; and Mizuho, from $350 to $360.

Microsoft Stock Technical Analysis: Next target is R4 Pivot

With analysts’ price targets rising in unison, investors can expect MSFT to appreciate in the near term. Looking at the daily chart, one notices immediately that the premarket price at $315.10, up 1.6% at the time of writing, is already above the R2 pivot point at $313.35.

MSFT shares have been trading mostly inside an ascending parallel price channel since the start of the year. Having tagged the bottom trend line on October 4 at $280.25, Microsoft stock has risen through the midline and now looks to the top line near $330.

That price is also near the R4 pivot point at $329.50. First, however, MSFT would need to surmount the R3 at $321.46. With the current average price target of $351.95, this should be easy as cake.

MSFT 1-day chart

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