7 Best Performing Long Term Stocks in 2024

5. MicroStrategy Incorporated (NASDAQ:MSTR)

Average Analyst Price Target Upside: 27.70%

Stock Price Performance YTD: 124.58%

Number of Hedge Fund Holders: 26

MicroStrategy Incorporated (NASDAQ:MSTR) is a well-known player in the field of artificial intelligence-driven enterprise analytics. It provides software and services across multiple regions, including the United States and Europe.

The company’s flagship product, MicroStrategy ONE, provides non-technical users the ease to access valuable insights that aid in decision-making. Additionally, the MicroStrategy Cloud for Government offers important threat-monitoring services, designed to meet the complex technical and regulatory requirements of government bodies and financial institutions.

In addition to its software capabilities, MicroStrategy (NASDAQ:MSTR) has made a significant mark in the cryptocurrency landscape. Since 2020, the company has been accumulating Bitcoin and has emerged as the largest corporate holder of this digital asset.

As of September 20, it reported an impressive total of 252,220 Bitcoin, having invested approximately $9.9 billion in this venture. Recently, the company added 7,420 Bitcoin to its holdings at a total cost of about $458.2 million.

The acquisition came on the heels of another substantial purchase just a week earlier when it acquired 18,300 Bitcoin for around $1.11 billion, averaging $60,408 per Bitcoin. Overall, the company has added 25,720 Bitcoin to its balance sheet during the third quarter alone.

10 analysts have given MicroStrategy (NASDAQ:MSTR) a Buy rating and its average price target of $196.50 has an upside of 27.70% to the stock’s price on September 24. Year-to-date, the stock has gained 124.58%.