Microsoft shares hit a fresh all-time high on Tuesday, Microsoft Teams now has more than 20 million daily active users

Microsoft Teams, Microsoft Corp’s workplace messaging app, now has over 20 million daily active users, the tech company said on Tuesday. That figure compares with 13 million daily active users in July, Microsoft said.

Microsoft shares closed higher for a ninth consecutive trading session on NASDAQ on Tuesday. The stock inched up 0.03% ($0.05) to $150.39, after touching an intraday high at $151.33 and also a fresh all-time high.

Shares of Microsoft Corporation have surged 48.07% so far in 2019 compared with a 24.47% gain for the benchmark index, S&P 500 (SPX).

In 2018, Microsoft’s stock went up 18.74%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.

Microsoft’s rival Slack Technologies Inc, whose clients include Nordstrom Inc and Electronic Arts Inc, said that it had more than 10 million daily active users during the second quarter ending on July 31st.

The software giant offers Microsoft Teams as a free add-on platform to its Office365 users.

Analyst stock price forecast and recommendation

According to CNN Money, the 29 analysts, offering 12-month forecasts regarding Microsoft Corp’s stock price, have a median target of $160.00, with a high estimate of $170.00 and a low estimate of $155.00. The median estimate represents a 6.39% upside compared to the closing price of $150.39 on November 19th.

The same media also reported that at least 26 out of 32 surveyed investment analysts had rated Microsoft Corp’s stock as “Buy”, while 4 – as “Hold”.