Cloud computing breathing new life into Microsoft
June 5, 2014
Grazed from Investors. Author: Patrick Seitz.
Microsoft CEO Satya Nadella has earned high marks for his first four months at the helm of the software giant. His performance garnered the company’s stock an upgrade Thursday from research firm FBR Capital Markets. FBR analyst Daniel Ives raised his rating on Microsoft (NASDAQ:MSFT) stock to outperform from market perform and hiked his price target to 49 from 43. Microsoft stock was up 1.5% near 41 in afternoon trading on the stock market today.
"We have a high degree of confidence in Satya Nadella’s plan for Microsoft’s future," Ives wrote. "With Nadella at the helm, Microsoft is off to a golden start with his improved transparency and strategic focus on the mobile/cloud space," Ives wrote. Based on the company’s March quarter results and FBR checks with customers, Microsoft is experiencing accelerated traction in cloud computing with its core cloud Office product (Office 365) showing good subscriber momentum, he said…
Meanwhile, Microsoft’s cloud platform Azure is "growing rapidly on the heels of strong secular trends" favoring cloud offerings…
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