MSTR
MicroStrategy Incorporated
NASDAQ: MSTR · TECHNOLOGY · SOFTWARE - APPLICATION
$123.97
+3.18% today
Updated 2026-06-12
Market cap
$52.71B
P/E ratio
—
P/S ratio
97.64x
EPS (TTM)
$-37.00
Dividend yield
—
52W range
$104 – $457
Volume
17.6M
MicroStrategy Incorporated (MSTR) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed MSTR price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$123.97
Today
Analyst consensus
$322.21
+159.91% · 12M
2030 Base
$126.55
+2.08% future
NPV today
$62.34
@ 17% WACC
15 analysts:
12 Buy3 Hold0 Sell
Management guidance
Michael Saylor has positioned MicroStrategy as a 'Bitcoin Treasury Company' with aggressive accumulation strategy (820,000+ BTC holdings as of May 2026). Management has not provided explicit annual revenue guidance for 2026-2030, but has signaled focus on Bitcoin appreciation and potential tokenization/yield initiatives rather than traditional software revenue growth. CEO statements emphasize long-term Bitcoin accumulation ('could buy all remaining Bitcoin before 2140') over near-term software revenue targets.
Sources: Management guidance, analyst consensus, sector analysismedium confidence
MSTR · MicroStrategy Incorporated · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$81.47
NPV today: $40.13
Base case (2030)
$126.55
NPV today: $62.34
Bull case (2030)
$246.78
NPV today: $121.57
WallStSmart.com
MSTR financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $0.5B | $0.6B | $0.7B | $0.8B | $0.9B | $1.0B |
| Revenue growth | 3.0% | 9.9% | 8.0% | 6.7% | 5.5% | 4.2% |
| Net margin | — | 2892.0% | 2143.3% | 1682.3% | 1321.9% | 1097.9% |
| EPS | — | $48.00 | $42.00 | $38.00 | $35.00 | $33.00 |
| Diluted shares | — | 331M | 332M | 332M | 332M | 333M |
| Net debt | — | $6.26B | $6.58B | $6.96B | $7.40B | $7.90B |
| P/S multiple | — | 50.0x | 50.0x | 50.0x | 50.0x | 50.0x |
| Implied price (base) | — | $64.11 | $78.14 | $91.99 | $110.13 | $126.55 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $1.0B | $1.0B | $1.0B |
| P/S multiple | 35.0x | 50.0x | 90.0x |
| Diluted shares | 333M | 333M | 333M |
| Net debt | $7.90B | $7.90B | $7.90B |
| Implied P/E † | 3x | 4x | 8x |
| 2030 Price | $81.47 | $126.55 | $246.78 |
| NPV @ 17% | $40.13 | $62.34 | $121.57 |
† Implied P/E: Multiples remain elevated across all three scenarios because MSTR is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $126.55 base case
MSTR catalysts and risks
Growth catalysts
+ Bitcoin price appreciation (company holds 820,000+ BTC; +50% BTC price = ~$31B unrealized gain at current holdings)
+ S&P 500 inclusion potential (would drive institutional inflows and reduce equity dilution pressure)
+ Tokenization and AI initiative expansion (Saylor's stated strategic pivot beyond legacy BI software)
+ Continued aggressive Bitcoin acquisition via preferred stock issuances (raised $2B in May 2026 alone)
+ Possible operating margin improvement if legacy software revenue stabilizes and overhead is absorbed
Key risks
- Bitcoin price collapse (crypto market downturn would trigger massive mark-to-market losses; stock highly levered to BTC price)
- Business model transformation incomplete (shifting from software to Bitcoin treasury creates valuation ambiguity; legacy BI software revenue declining -0.1% CAGR 5Y)
- Balance sheet stress ($8.28B debt; convertible bond maturities; if BTC price falls >50%, asset coverage deteriorates sharply)
- Revenue stagnation/decline risk (TTM revenue $490.47M, up only 6.79% YoY; core software business has not grown meaningfully in 5 years)
- Dilution from ongoing preferred stock issuances (STRC preferred shares being issued to fund Bitcoin purchases)
- Regulatory risk on crypto/tokenization strategy (CLARITY Act pending; adverse crypto regulation could derail growth thesis)
Methodology · MicroStrategy Incorporated 2030 stock forecast model
MicroStrategy Incorporated 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 15 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (0% cumulative for MSTR by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($7.90B by 2030) |
| 3. Time value | NPV calculated using 17% WACC (sector fallback) |
| 4. Multiple framework | P/S compresses with scale: bear 35.0x / base 50.0x / bull 90.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
MSTR price target FAQ
What is the MSTR price target for 2030?
WallStSmart's MicroStrategy Incorporated 2030 base case is $126.55 per share, with a bull case of $246.78 and bear case of $81.47. The NPV of the base case discounted to today at 17% WACC is $62.34.
How is the MicroStrategy Incorporated 2030 stock forecast calculated?
The MSTR 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the MSTR price target account for dilution?
MicroStrategy Incorporated is projected to grow diluted share count from 332M to 333M by 2030 (a 0% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 0%.
What is the analyst consensus on MSTR stock?
15 analysts cover MSTR with an average 12-month price target of $322.21. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.