Oppenheimer Microsoft · MSFT

Oppenheimer Keeps $630 Price Target on Microsoft

1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$630
from $600 (+5%)
Outcome
Missed
within 12 months
Oppenheimer and Microsoft logos

What the analyst said

Oppenheimer analyst Brian Schwartz reiterated on October 30, 2025, an ‘Outperform’ rating and $630 price target on Microsoft.

“Microsoft’s F1Q results beat consensus estimates.

Azure and other Cloud Services revenue grew 39% in CC, which is strong growth at a large scale, but a slight decel from last quarter.

Additionally, the F2Q guidance for this metric implies further deceleration despite an easier y/y comparison.

The issue is capacity constraint.

Positively, management is accelerating Capex in FY26 to double the data center footprint in two years to lessen the capacity issue this fiscal year.

Bottom Line: MSFT shares are likely to retreat off the Azure F2Q guide and after moving up into the F1Q print.

Nevertheless, we recommend buying the weakness with Microsoft highly entrenched and strategically positioned for the next waves (Cloud and AI) of application modernization and expansion.

Maintain Outperform, $630 PT.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

MSFT trades at $536. The 28 analysts who set a target in the last 3 months range from $515 to $750, with a median of $630. This $630 target is in line with the median.

Since the note MSFT has moved −1% (from $542). The 12-month window closed on October 30, 2026.

Track record

This call✗ Not reached within 12 months: a year after the note MSFT closed at $522, 17% below the $630 target, and it moved the other way.

Firm track recordOppenheimer: 64% of its 14 targets at least a year old were reached within 12 months; on Microsoft, 0 of 2. Accuracy ranking →

Oppenheimer on Microsoft

Oppenheimer price targets on Microsoft

8 calls from July 9, 2025 to October 29, 2026. The target went from $600 to $625 (+4%). The rating stayed Buy.

Oppenheimer targetMSFT share price
  1. October 29, 2026Kept the $625 targetBuy$625
  2. October 26, 2026Target raised from $570 (+10%)Buy$625
  3. September 22, 2026Target raised from $515 (+11%)Buy$570
  4. July 30, 2026Kept the $515 targetBuy$515
  5. July 22, 2026Kept the $515 targetBuy$515
  6. April 30, 2026Target cut from $630 (−18%)Buy$515
  7. October 30, 2025 This noteTarget raised from $600 (+5%)Buy$630
  8. July 9, 2025Earliest call shownBuy$600
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Other analysts on Microsoft

BairdBuy Raised price target +20%, kept rating Oct 30 $600from $500 ArgusBuy Kept rating Oct 30 UBSBuy Raised price target +4%, kept rating Oct 29 $700from $675 TD CowenBuy Raised price target +4%, kept rating Oct 29 $650from $625 CantorBuy Raised price target +4%, kept rating Oct 29 $630from $608
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.