Bitcoin traded above $95,000 this week, reaching $97,000. The cryptocurrency's rise occurred alongside cooling U.S. inflation signals, stable employment figures, and strong inflows into crypto ETFs.
Strategy, formerly MicroStrategy, continues to invest heavily in Bitcoin. CEO Michael Saylor expects Bitcoin prices to reach $1 million by 2029.
The company's stock has gained 10.4% over the past five days as Bitcoin resurged. It is up 16% from its 52-week low of $149.75 reached on January 2, 2026.
Over the past 52 weeks, Strategy's stock has declined 52.67%. Over the past six months, it fell 61.9%. The S&P 500 Index increased 16.89% and 10.8% over the same periods respectively.
The stock reached a 52-week high of $457.22 in July 2025 but remains down 62% from that level. It trades at a price-to-earnings ratio of 6.25x, below the industry average of 32.73x.
On October 30, Strategy reported third-quarter results for fiscal 2025. Total revenue increased 10.9% year-over-year to $128.69 million, exceeding analysts' estimate of $117.10 million.
Income from operations turned a $432.58 million loss in Q3 2024 into a $3.89 billion profit in Q3 2025. This included an unrealized gain on digital assets of $3.90 billion. Earnings per share shifted from a $1.72 loss to $8.42.
Following its results, the company established a U.S. dollar reserve of $1.44 billion. The reserve will be used to pay preferred stock dividends and interest on outstanding debt.
Wall Street analysts expect Strategy's loss per share to increase significantly year-over-year to $18.06 for the fourth quarter. For fiscal 2025, loss per share is expected to grow to $30.86.
Last month, Citi analyst Peter Christiansen reiterated a "Buy" rating but lowered the price target from $485 to $325. Christiansen noted the reduction was due to updated digital asset valuation outlook but expects legislative reforms to serve as a catalyst for growth.
Also last month, Bernstein analysts lowered the price target from $600 to $450 while maintaining an "Outperform" rating. They stated concerns about financial stability were overstated and believe the company is transforming into a Bitcoin-reserved financial operating business.
Cantor Fitzgerald analysts lowered the price target from $560 to $229 but maintained an "Overweight" rating. They cited a recalculation of Bitcoin holdings as the reason but maintain a long-term bullish view on Bitcoin and Strategy.
In November, Monness, Crespi, Hardt analysts upgraded the stock from "Sell" to "Neutral." They cited a lower premium relative to Bitcoin holdings and reduced downside risk.
Sixteen analysts rate Strategy stock, with thirteen recommending "Strong Buy," one suggesting "Moderate Buy," and two recommending "Hold." The consensus price target is $473.79, representing 172.8% upside from current levels. The street-high target is $705, indicating 305.9% upside.