Shares of MicroStrategy Inc. looked set to extend their bounce on Monday, after Benchmark analyst Mark Palmer raised his price target to the highest on Wall Street, saying the ability of the company to create shareholder value through its bitcoin purchases is being undervalued.

MicroStrategy’s recent Bitcoin purchase and its Bitcoin treasury model have led to a flurry of revised price targets from leading Wall Street firms.

MicroStrategy shares jumped in early Monday trading as bitcoin prices continue to test the $100,000 mark and a pair of Wall Street analysts boosted their price targets on the world's biggest holder of the world's biggest cryptocurrency.

Analysts are raising their price targets on MicroStrategy Inc (NASDAQ:MSTR)., the largest corporate holder of Bitcoin, on growing optimism around its cryptocurrency-centric strategy. Its shares rose 4% at $442 before the

MicroStrategy (NASDAQ:MSTR) bought ~55,500 more bitcoins for ~$5.4B in the week of Nov. 18-24, an ~17% increase in its bitcoin holdings, the company disclosed in a fil