H.C. Wainwright keeps Buy rating on Strategy, $250 target

H.C. Wainwright analyst Mike Colonnese has reiterated his Buy rating on Strategy Inc. (NASDAQ: MSTR) and maintained his $250 price target, pointing to the company’s financial position following its third-quarter 2026 earnings release, according to cryptobriefing.com.

Strategy reported $20.9 billion in unrealized fair-value gains on its digital asset holdings for the quarter, even as the pace of new Bitcoin purchases slowed compared with prior quarters. The company also disclosed roughly $5 billion in USD reserves following a $2 billion preferred stock buyback program. Colonnese said those reserves provide more than three years of coverage for Strategy’s dividend and interest obligations.

The buyback targeted Strategy’s STRC preferred shares, which carry a 12% annual dividend rate that management has signaled it intends to maintain. Cryptobriefing.com reported that revenue came in slightly below the prior-year period, making the quarter a record for earnings despite the softer top line.

Strategy’s management has set a long-term goal of doubling its Bitcoin holdings per share over seven years. The company has framed the pause in active Bitcoin buying as a tactical step to strengthen its financial structure rather than a retreat from that target, leaving room for continued, more modest accumulation going forward.

Colonnese’s $250 target falls within the broader analyst consensus, which cryptobriefing.com put between $245 and $250, with an overall rating of Moderate Buy across covering analysts. The $5 billion reserve figure was described as central to assessing whether Strategy can sustain its 12% preferred dividend while retaining Bitcoin exposure, with management’s own framing suggesting the reserves could cover obligations for at least three years without additional purchases.

Based on reporting by cryptobriefing.com.