Key Insights:
- MSTR stock price fell almost 3% as Strategy earnings missed revenue estimates.
- Strategy reported $20.91 billion in operating income, largely driven by an unrealized Bitcoin gain.
- CFO Andrew Kang will step down Nov. 5, while Barclays sets a $175 target for MSTR stock price.
The MSTR stock price fell on Oct. 29 as Strategy earnings missed revenue estimates. Strategy stock closed at $141.62, down $3.54, or 2.44%, from the previous close of $145.16.
MSTR stock opened at $141.65 and climbed to an intraday high of $144.76 before reversing lower. It later reached $138.88, then recovered slightly before the regular session ended.
MSTR Stock Price Slips
However, selling continued after the close. MSTR stock price hovered around $137.80 in after-hours trading, a further 2.70% decline from its regular-session close.
The MSTR stock price slip came as Strategy reported third-quarter 2026 revenue. The Bitcoin-focused company delivered mixed third-quarter results, as revenue came in below forecasts despite a steep rise in reported profits.
Revenue totaled $125.4 million, down 3% from a year earlier and short of the $127.2 million analyst estimate. Earnings per share reached $44.75, well above the $8.17 consensus.
Net income rose 600% year over year to $19.53 billion, while operating income increased 438% to $20.91 billion. The quarter’s results included a $20.91 billion unrealized gain on digital assets.
Bitcoin Gains Lift Income as Strategy Raises Capital
In its October 29 press release, Strategy reported net income of $19.12 billion and operating income of $20.91 billion. An unrealized gain of $20.91 billion on the company’s Bitcoin holdings largely drove the operating result.
Strategy reported operating income as “$21 billion” and called it the largest quarter in its history. The company also reported raising $21 billion year-to-date. In addition, Strategy said it had returned STRC to health.
Bitcoin purchases also featured in the company’s update. Although Strategy reported no Bitcoin purchases during the latest week, the company bought 267 BTC between Oct. 12 and Oct. 18.
Strategy paid an average of $82,900 per Bitcoin, spending $22.1 million. Strategy reported holding 848,517 BTC, a 26% increase year-to-date.
Alongside that announcement, Strategy expanded its digital credit securities repurchase authorization to $3 billion. MSTR stock price rose more than 2% the last time the company reported the Bitcoin purchase and authorization increase.
MSTR Stock Price: Strategy CFO Change and Barclays Price Target
The Q3 announcement also outlined a transition in Strategy’s finance leadership. Andrew Kang will step down as executive vice president and chief financial officer on Nov. 5, 2026.
Kang will remain with the company as an adviser through Dec. 31, 2026. During the transition, President and CEO Phong Le will serve as principal financial officer and oversee the finance organization.
Effective Jan. 1, 2027, Reza Virasteh will become executive vice president and chief financial officer. Virasteh currently serves as Strategy’s executive vice president of operations.
He will serve as co-principal financial officer alongside Le. Le will retain responsibility for the financial management of Strategy’s Bitcoin strategy.
Separately, days before the earnings call, Barclays analyst Nik Cremo upgraded his MSTR stock price target to $175. The revised target formed part of Cremo’s broader Q3 forecasts.
Cremo also placed the company in the payments and fintech space as part of his assessment. The $175 target represents one analyst’s estimate, not a guarantee of future performance.
