Microsoft earnings: The SolarWinds hack may be a good thing for Azure

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Microsoft got caught up in the SolarWinds cybersecurity attack late last year, but the unprecedented intrusion may actually end up being a positive for the company’s bottom line. Everything you need to know before earnings on Thursday:

Microsoft Corp. got caught up into a massive cybersecurity attack late last year, but the unprecedented intrusion may actually end up being a positive for the company’s bottom line.

“Bottom line, we believe this cybersecurity attack could be a modest net positive for Microsoft,” Keirstead said. What to expect Earnings: Of the 28 analysts surveyed by FactSet, Microsoft on average is expected to post earnings of $1.64 a share, up from the $1.61 a share expected at the beginning of the quarter and the $1.51 a share reported in the year-ago second quarter. Estimize, a software platform that uses crowdsourcing from hedge-fund executives, brokerages, buy-side analysts and others, calls for earnings of $1.74 a share.

What analysts are saying Morgan Stanley analyst Keith Weiss, who has an overweight rating and a $260 price target, said that while investors may focus on Microsoft’s headwinds, he sees an opportunity given the stock’s lag in the software sector. While Microsoft’s stock has risen 35% in the past 12 months, the iShares Expanded Tech-Software Sector ETF IGV, -0.56% has grown 43%

“We see positive set-up around key top-line metrics for Microsoft, with likely upside to Azure growth metric and forward Azure numbers moving higher here after continued strong contract signing and consumption indications,” Pritchard said.

 

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