Wolfe Research Microsoft · MSFT

Wolfe Research Raises Microsoft Price Target to $550

1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$550
from $525 (+5%)
Outcome
Reached
on November 4, 2026
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What the analyst said

Wolfe Research analyst Alex Zukin raised the price target on Microsoft (NASDAQ: MSFT) to $550 (from $525) while maintaining an Outperform rating.

“MSFT took the gloves off this quarter, with an Azure uppercut, and M365 jab and a CapEx bob and weave that was enough to change the course of the fight.

They also made sure to remind us that the 8% sequential RPO growth was all regular way (not frontier lab driven) business while shifting the event horizon from model to harness and pricing model from seat to consumption.

The tone was set early as Azure delivered the biggest beat since 4Q25, accelerating 4pp Q/Q to 43%, guideing 1Q to 45% (+350bps) vs cons (largest since 4Q25), supported by another 1GW of capacity (3GW+ TTM).

Outperformance came from better efficiency across CPU / GPU fleets, faster deployment of new capacity, and incremental consumption monetization from GitHub, trends that to us seem durable and structural.

We see a positive Azure setup into FY27 (and raise our numbers to 45.5% for the year) as capacity additions become more consistent, deployment cycles shorten, and demand remains WELL ahead of supply.

The Apps engine also got a tune-up, with accelerating M365 growth, Copilot seat adds doubling and reaching 30M, and usage based credit consumption up >4X Q/Q as consumption layers on top of seats.”

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Where the price stands

MSFT trades at $531. The 28 analysts who set a target in the last 3 months range from $515 to $750, with a median of $630. This $550 target is 13% below the median.

Since the note MSFT has moved +36% (from $391). 12-month window: day 99 of 365, closes on July 30, 2027.

Track record

This call✓ Target reached on November 4, 2026, 3 months after the note.

Firm track recordWolfe Research: 91% of its 11 targets at least a year old were reached within 12 months. Accuracy ranking →

Earnings reactionOne of 18 notes after Microsoft’s Jul 29 results: 10 raised · 1 cut · 7 kept. See every call →

Wolfe Research on Microsoft

Wolfe Research price targets on Microsoft

3 calls from July 31, 2025 to July 30, 2026. The target went from $675 to $550 (−19%). The rating stayed Buy.

Wolfe Research targetMSFT share price
  1. July 30, 2026 This noteTarget raised from $525 (+5%)Buy$550
  2. July 6, 2026Target cut from $675 (−22%)Buy$525
  3. July 31, 2025Earliest call shownBuy$675
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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.