Mizuho Raises Price Target on Microsoft to $625

Mizuho analyst Gregg Moskowitz raised on August 1, 2025, the price target on Microsoft to $625 (from $540) while maintaining an ‘Outperform’ rating on the stock.

“A F4Q Showstopper

Reiterate Outperform and Raise PT to $625MSFT reported a stellar F4Q, as total revenue of $76.4B (+17% Y/Y CC) significantly beat the Street’s $73.8B estimate.

Most impressively, Azure revenue grew by 39% Y/Y CC, trouncing mgmt’s guidance of 34%-35% Y/Y CC, and reflecting a second consecutive quarter of acceleration.

Within Azure, core consumption was helped by very strong cloud migration activity, and continued robust AI demand.

Mgmt is also targeting Azure revenue growth of 37% Y/Y CC in F1Q, meaningfully above the Street’s 33.5-34.0% projection and buy-side expectations.

More broadly, we remain confident that MSFT’s revenue growth opportunities over the medium-term and beyond are greater than many realize, and we continue to be very bullish on its tangible AI adoption and monetization levers.

We reiterate our Outperform rating and raise our PT to $625 (was $540).”

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