UBS Reiterates Buy on Microsoft, $510 Price Target

UBS analyst Karl Keirstead reiterated a Buy rating and $510.00 price target on Microsoft (NASDAQ: MSFT).

“Microsoft reported a largely in-line 3Q/Mar print, with most key metrics (c/c revs growth of 15%, Azure growth of 39%, M365 growth of 15%, EBIT margins of 46%) landing right on top of our estimates and investor consensus.

Looking forward, there were a few surprises that will shape the debate on the stock in the coming months – guidance for an acceleration in Azure growth in the Sept/Dec 2026 quarters, a material bump in capex and a faster-than-expected shift to usage-based pricing.

All-in, we expect muted follow-through in the stock.”

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