Microsoft’s run of good quarters appears poised to continue, with a “Picasso-like masterpiece quarter.”
Microsoft has been firing on all cylinders, especially in regard to its Azure cloud platform. The company is in second place in the cloud market, but has the advantage of onboarding companies and organizations that have been using its desktop OS and software for decades.
Daniel Ives, analyst at Wedbush, is once again raising his target price, this time from $350 to $375. According to TheStreet, Ives says the company “will deliver another Picasso-like masterpiece quarter with numbers that should handily exceed Street estimates.”
Ives also believes Microsoft is continuing to benefit from the accelerated shift to the cloud.
“We are seeing deal sizes continue to increase markedly as enterprise-wide digital transformation shifts are accelerating,” he continued.
Microsoft reports its earnings on October 26.