TLDR
- Maxim Group cut its price target for Strategy stock from $250 to $215, while keeping a Buy rating.
- Cantor Fitzgerald lowered its target to $186 and cut its Bitcoin price forecast to $98,000.
- B. Riley reduced its target from $215 to $155 and lowered its Bitcoin forecast to $65,000.
- Strategy sold 1,638 Bitcoin worth about $105 million to fund buybacks and dividends.
- A wallet linked to Strategy moved over 1,030 Bitcoin worth more than $66 million after the sale.
Strategy stock has a new price target from Wall Street. Maxim Group cut its target to $215 from $250.
The bank kept its Buy rating on the stock despite the cut. The new target still points to upside from current levels.
Strategy shares closed at $98.37 on Wednesday. That was up $0.72, or 0.74%, for the day.
The price target cut comes after Strategy sold part of its Bitcoin holdings. The sale has drawn attention across the market.
Wall Street Firms Lower Their Targets
Maxim is not alone in cutting its outlook. Several other firms have trimmed their targets in recent weeks.
Cantor Fitzgerald cut its price target on Strategy to $186. The firm also lowered its Bitcoin forecast.
Cantor now expects Bitcoin to reach $98,000 by August 2027. That is down from its earlier forecast of $111,000.
B. Riley made a deeper cut, taking its target from $215 down to $155. It also lowered its Bitcoin forecast from $81,500 to $65,000.
B. Riley pointed to Strategy’s decision to pause further Bitcoin purchases. The firm said this was one reason behind the lower valuation.
Bitcoin Sale And Wallet Transfers
The downgrades follow a stretch of Bitcoin sales by Strategy. The company had long held a “never sell” stance on its Bitcoin.
That stance shifted after Strategy sold 1,638 Bitcoin. The sale was worth about $105 million.
The company said the funds would help pay for stock buybacks and dividends. Strategy still holds 842,138 Bitcoin after the sale.
Blockchain tracking firm Lookonchain flagged a wallet linked to Strategy. The wallet moved over 1,030 Bitcoin worth more than $66 million.
Arkham Intelligence recorded five separate transfers from the wallet. The amounts ranged from about $6 million to $21 million.
Those transfers were part of a larger movement of 300 Bitcoin earlier in the week. Strategy has not said what the transfers were for.
The company has not confirmed if the transfers are linked to another sale. It also has not said if they were simply internal custody changes between wallets.
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