Strategy stock rating reiterated at Sell by Monness, Crespi, Hardt

Investing.com - Monness, Crespi, Hardt maintained its Sell rating and $175.00 price target on Strategy (NASDAQ:MSTR), currently trading at $326.42, in a research note released Monday. According to InvestingPro data, the stock has shown significant volatility with a beta of 3.83 and has delivered a 93.61% return over the past year.

The firm’s analysis assumes a 5% discount to HODL under bottom quartile conditions and a Bitcoin price of approximately $100,000. Strategy recently added to its Bitcoin holdings, purchasing 196 bitcoins last week, bringing its total holdings to 640,031 with an average cost of approximately $74,000 per bitcoin. The company maintains a "GOOD" overall financial health score according to InvestingPro analysis, with analysts expecting positive earnings growth this year.

Strategy raised $116.4 million through common stock issuance last week, with an additional $11.3 million and $0.4 million coming from the sale of STRF and STRD, respectively. The company has returned to a more aggressive approach of relying on common stock issuance, which has comprised over 80% of weekly fundraising in several recent weeks.

The research firm noted that Strategy’s premium level remains at approximately 1.3 times, compared to a median of about 1.2 times. Despite maintaining the Sell rating, Monness, Crespi, Hardt indicated it would wait for a higher multiple on modified net asset value before recommending more aggressive exposure changes.

The firm kept its estimates for Strategy unchanged in the research note, maintaining its existing financial projections for the company alongside the reiterated Sell rating and price target.

In other recent news, Strategy Inc has provided several updates regarding its at-the-market (ATM) equity offering programs and bitcoin holdings. Between September 22 and September 28, 2025, the company sold 101,713 shares of its 10.00% Series A Perpetual Strife Preferred Stock, generating net proceeds of $11.3 million. Previously, from September 15 to September 21, Strategy Inc sold 173,834 shares of the same stock, resulting in net proceeds of $19.4 million. Additionally, the company acquired 525 bitcoins, increasing its total bitcoin holdings to 638,985. Monness, Crespi, Hardt reiterated a Sell rating on Strategy Inc, maintaining a price target of $175.00. Despite a Buy rating from Benchmark with a $705.00 price target, Strategy Inc was excluded from the S&P 500 additions. Earlier in September, the company generated $11.6 million in net proceeds from selling 104,381 shares of its Series A Perpetual Strife Preferred Stock and $200.5 million from selling 591,606 shares of its Class A common stock. These updates reflect Strategy Inc’s ongoing financial activities and strategic decisions.

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