UBS Cuts Price Target on MicroStrategy (MSTR); Lower Peer Multiples

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UBS maintains a 'Neutral' on MicroStrategy (NASDAQ: MSTR) price target of $143.00 (from $150.00).

Analyst, Brent Thill, said, "MSTR has a best of breed BI product, 40%+ maintenance streams, and an enviable 3,000+ customer base. MSTR is facing an easy 16% license comp in this Qtr vs. 53%+ comps the last 2 Quarters. Shares are also relatively cheap at only 1.7x CY13E EV/S, below the 2.0x mark best of breed software cos should trade over. However, as we wait to see how recent investments play out, we are cautious in the near term and are lowering our PT to reflect a ~10% lower comp group multiple since last Quarter.

For an analyst ratings summary and ratings history on MicroStrategy click here. For more ratings news on MicroStrategy click here.

Shares of MicroStrategy closed at $130.26 yesterday, with a 52 week range of $100.86-$178.58.

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