MicroStrategy stock declined over 2% in trading today, reversing gains from the previous session when it rose 5.62%. The stock traded at $147.51 in pre-market hours, down approximately 2.5% from its prior close of $151.29.
Cantor Fitzgerald raised its price target for MicroStrategy to $208 from $186, maintaining an "Overweight" rating. The firm attributed the upgraded outlook to stronger expectations for Bitcoin and MicroStrategy's substantial cryptocurrency holdings. Analyst Ramsey El-Assal also increased his 12-month Bitcoin price forecast to $112,000 from $98,000.
MicroStrategy currently holds approximately 848,000 BTC following a recent acquisition of 250 BTC. Cantor Fitzgerald's revised valuation places the company's enterprise value at $110 billion, up from a previous estimate of $97 billion.
MSCI Delisting Threat
The stock's decline today appears linked to concerns over potential delisting from MSCI indexes. MSCI adopted new index exclusion rules targeting certain non-operating companies that fail revised screening requirements.
A simulation using May 2026 data identified MicroStrategy and Japan's Metaplanet as potential removals from MSCI's Global Investable Market Indexes. MSCI will publish its final list of affected constituents on November 11, with new rules taking effect after the November 30 market close.
The potential exclusion from the index may create near-term headwinds for the stock, though MicroStrategy's performance will likely depend on Bitcoin's price trajectory and investors' response to MSCI's final decision.
