Strategy (MSTR) — formerly known as MicroStrategy — has once again shown its muscle in recent weeks, outpacing Bitcoin (BTCUSD) with its share price climbing 28% year-to-date (YTD). BTC trails behind with a 26% hike YTD, underscoring MSTR stock’s leveraged upside in crypto rallies.

This momentum aligns with fresh optimism from the analyst community. Mizuho Securities recently raised its price target on MSTR stock from $563 to $586, and maintained an “Outperform” rating. Together, these developments reinforce the narrative that Strategy remains a high-conviction vehicle for amplified Bitcoin exposure.

About Strategy Stock

Strategy officially rebranded to its current name along with a new Bitcoin-centric logo and brand identity back in early February. Headquartered in Tysons Corner, Virginia, the firm continues to offer its artificial intelligence (AI) powered analytics platform while simultaneously accumulating significant Bitcoin holdings, positioning itself as a leveraged proxy for crypto exposure. The company’s market capitalization stands at around $106 billion, reflecting its massive Bitcoin reserves and investor enthusiasm.

Strategy has delivered a dramatic and volatile ride throughout 2025, characterized by striking correlation with Bitcoin’s performance. MSTR stock has soared 183% over the past year, fueled by robust BTC accumulation and surging crypto sentiment as Bitcoin has approached all-time highs. From a YTD perspective, the stock remains strong with an appreciable gain, notably just outperforming Bitcoin itself.

BTC reached its most recent all-time high of $124,198.52 on Aug. 14, fueled by strong institutional demand, surging exchange-traded fund (ETF) inflows, and growing crypto-market optimism.

Meanwhile, MSTR stock is trading at a premium at 232 times forward sales.

Strategy's Solid Q2 Performance

Strategy released its second-quarter 2025 earnings on July 31, delivering a blockbuster performance that far surpassed expectations. The company reported EPS of $32.60, a striking turnaround from the prior year’s net loss and well above the estimated loss. Revenue also beat Street forecasts, rising 2.7% year-over-year (YOY) to $114.5 million.

Driving this dramatic shift was the inclusion of unrealized gains from its digital assets, enabled by a newly adopted accounting change. As a result, Strategy posted $14 billion in operating income and $10 billion in net income, another reversal from losses reported in the prior-year quarter.

The company also revealed a YTD Bitcoin yield of 25%, a $13.2 billion BTC dollar gain, and holdings of 628,791 BTC. Strategy’s forward-looking guidance was similarly bullish with full-year projections including $34 billion in operating income, $24 billion in net income, and $80 in diluted EPS, assuming a year-end Bitcoin price of $150,000.

On the other hand, analysts anticipate loss per share to increase 472% YOY to $38.49 in fiscal 2025, before improving by 99% to reach a loss of $0.40 in fiscal 2026.

What Do Analysts Expect for Strategy Stock?

In a compelling display of renewed confidence in Strategy, analysts have recently upgraded their outlooks. Mizuho Securities lifted its price target to $586 from $563, while maintaining an “Outperform” rating on Aug. 11 — a move inspired by the company's robust Q2 results and enhanced guidance for Bitcoin yield and gains in 2025. With strong earnings, aggressive treasury execution, and optimistic crypto projections, Mizuho argues that Strategy is well-positioned to continue its upward trajectory.

On Aug. 4, Clear Street also lifted its price target on Strategy to $537 from $508, maintaining a “Buy” rating. The firm cited expectations for stronger Bitcoin yield and larger forward Bitcoin balances.

Meanwhile, BTIG raised its price target to $700 from $620, maintaining a “Buy” rating after the strong Q2 results and BTC-related gains.

Wall Street is majorly bullish on MSTR stock. Overall, MSTR has a consensus “Strong Buy” rating. Of the 13 analysts covering the stock, 11 advise a “Strong Buy,” one suggests a “Moderate Buy,” and one gives a “Strong Sell” rating.

The average analyst price target of $562.15 implies potential upside of 52% from current levels. The Street-high target price of $705 suggests that shares could rally as much as 91% from here.