Strategy Stock Climbs Ahead Of Q1 Earnings With $53B Bitcoin Reserve, Analyst Expectations Run High

H.C. Wainwright initiated coverage at ‘Buy’ and a $480 price target earlier this week, citing its aggressive Bitcoin accumulation strategy as grounds for a premium valuation.

Strategy (MSTR) stock climbed over 3% in pre-market trade on Thursday ahead of its first-quarter earnings, scheduled for after the bell. 

Wall Street expects the Bitcoin-heavy software firm to report a net loss of $0.02 per share on $116 million in revenue, according to Koyfin data.

Formerly known as MicroStrategy, the company announced Monday that it had added 15,355 Bitcoin (BTC) to its holdings, valued at $1.42 billion at the time of purchase. 

The new acquisition brings Strategy’s total Bitcoin reserve to 553,555 tokens, now worth more than $53 billion based on current BTC prices, which are just above $96,000, according to Bitcoin Treasuries.

Shares of Strategy have risen 26% year-to-date, outperforming Bitcoin’s 18% gain over the same period. Over the past 12 months, Strategy’s stock has risen more than 200%, while Bitcoin’s price has gained roughly 60%.

Analyst expectations are high as the earnings report approaches. H.C. Wainwright initiated coverage of the stock this week with a ‘Buy’ rating and a $480 price target, calling Strategy one of the “most compelling” ways to gain leveraged exposure to Bitcoin through public markets, in a note to clients cited by TheFly.

The brokerage cited the company’s ability to raise equity and debt capital at scale to expand its holdings, at a pace exceeding share issuance, as a justification for a “durable and healthy premium” to net asset value.

The average price target on Strategy shares stands at $487.44, implying roughly 28% upside from Wednesday’s close. Of the 14 analysts covering the stock, 13 rate it either a "Buy" or "Strong Buy." Only one maintains a “Sell” rating.

Investors will be watching management’s comments on Bitcoin strategy and the outlook for its core software business amid ongoing trade volatility and market sensitivity to U.S. tariff policy.

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