Microsoft (MSFT) Gets $650 Price Target as Fabric Becomes Fastest-Growing Data Platform

Microsoft Corporation (NASDAQ:MSFT) is one of the  Trending AI Stocks on Wall Street.  On August 4, Stifel analyst Brad Reback reiterated a Buy rating on the stock with a $650.00 price target.

The rating affirmation follows positive earnings commentary and strong partner checks for Microsoft Fabric, the company’s unified, end-to-end, SaaS (Software as a Service) data analytics platform.

According to Stifel, Fabric is the fastest-growing platform in the company’s history.

“The product is already demonstrating strong momentum, as just two years post launch it has >25k customers and 55% Y/Y revenue growth, and represents the fastest-growing data platform in Microsoft’s history. Given this, we decided to dive deeper into Microsoft Fabric and its subset of capabilities (Data Factory, Synapse, PowerBI, OneLake, etc.), as we believe that the offering differentiates Microsoft’s data stack from other vendors.”

The firm believes that even though Fabric offers many products and capabilities that may have broader implications for other data analytics companies, it is likely possible for all of these solutions and tools to coexist.

“Not surprisingly, given the broad set of products and capabilities within Microsoft Fabric, we expect competitive implications for the broader data analytics ecosystem, including both Snowflake and Databricks. That said, given the accelerating pace that enterprises are moving to modernize their respective data estates in order to effectively leverage rapidly evolving genAI tools we believe the solutions can co-exist for years to come.”

Microsoft Corporation (NASDAQ:MSFT) provides AI-powered cloud, productivity, and business solutions, focusing on efficiency, security, and AI advancements.

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