MSTR Stock Price Eyes a Rebound as Citigroup Boosts Target to $325

Key Insights

• Analysts at Citigroup are highly optimistic about the MSTR stock.
• The experts believe that the shares will jump to $325.
• Technical analysis suggests that a rebound is possible.

MSTR stock price rose for two consecutive days. It reached a high of $139, up by 32% from its lowest level this year.

Analysts, including Citigroup, issued a highly bullish Strategy stock forecast. The rebound still leaves the price far below its $542 all-time high.

Citigroup Delivers a Bullish MSTR Stock Price Forecast

Strategy stock price could be on the verge of a strong bullish breakout in the near term. In a note, analysts at Citigroup, a top American bank, predicted that it would jump to $325. That’s 135% above the current level.

Other Wall Street analysts maintain their bullish outlook for the MSTR stock. However, some have lowered their eventual target. Data compiled by MarketBeat shows that Andrew Harte, an analyst from BTIG, predicted that it would jump to $250.

Canaccord Genuity’s analysts believe that it will jump to $185, while Mizuho have set a target of $403. Other highly bullish analysts are from companies like TD Cowen, Bernstein, and Benchmark.

Many of these analysts believe that the ongoing sell-off will ultimately be temporary. Also, the stock will bounce back eventually. Additionally, there are signs that the company has become highly oversold and undervalued, pointing to its balance sheet.

Data compiled by Bitcoin Treasuries shows that Strategy holds 714,644 coins currently valued at over $49 billion. It continued accumulating Bitcoin last week as the coin dropped. It bought 1,142 coins last week for $90 million.

The valuation is much higher than the company’s market capitalization of over $44 billion, giving it an mNAV of 0.903. The mNAV stood at 1.96 in July last year.

Strategy Stock Rebound is Pegged on Bitcoin’s Price Action

The MSTR stock price recovery will only happen if Bitcoin and the crypto market bounce back. Some analysts believe that the coin will bounce back in the coming weeks once the bear market ends.

For example, analysts at Bernstein believe that BTC price will eventually bounce back to $150,000. The analysts noted that this is one of the weakest Bitcoin bear market in history.

The analyst noted that none of the typical bear-market events have happened. For example, unlike in the 2022 bear market, there have been no major failures. In the last major bear market, companies like FTX, Terra, Celsius, and Voyager Digital collapsed, costing investors billions of dollars.

Sergey Nazarov, the founder of Chainlink, noted that cycles were a normal part of the crypto industry.

He also reiterated what Bernstein said, noting that the ongoing crypto market crash has not led to industry failures. Also, he sees that the real-world asset migration to the on-chain continues to accelerate.

In an interview with Fox Business, Phong Lee, Strategy’s CEO, noted that he was still bullish on the Bitcoin price. Also, the company will continue accumulating it. The company still has access to billions of dollars that it will use to accumulate BTC.

MSTR Stock Price Technical Analysis

The weekly timeframe chart shows that the Strategy stock price crashed to a low of $105 last week. After that, it bounced back to a high of $138. This rebound happened as the Bitcoin price jumped from the year-to-date low of $60,000 to over $70,000 within a session.

There are signs that the MSTR stock price is starting to bottom. For example, the Relative Strength Index (RSI) has moved to the oversold level of 27.

The last time this happened was in 2022 when the stock was trading at $20, and it then bounced back to a record high of over $540.

The stock has also settled at the 78.6% Fibonacci Retracement level, meaning that a rebound may be about to happen. If this happens, the next key target to watch will be at $230, its lowest level in March last year. It could go up by 70% above the current level.

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