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Microsoft shares gain amid partnership with Facebook

Shares in Microsoft Corporation reached all-time highs in Monday trading. The company’s stock gained 2.78%, or 5.42, to trade at 200.57. The technology giant announced that it will close its streaming service Mixer on July 22 and it will team up with Facebook Gaming.

The news about the change in partners would mean that all Mixer streamers and partners will have to switch to Facebook Gaming as Microsoft will cease its Mixer operation pretty soon.

Since Microsoft was having a hard time competing with other similar platforms like Twitch, YouTube and Facebook Gaming, the technology company decided to give up on operating the streaming service of Mixer.

Microsoft’s head of gaming, Phil Spencer, shared that he believes Mixer streamers will benefit from the larger audience they will gain after they transition to Facebook Gaming. What is more, viewers will be able to reach gamers a lot easier thanks to the social media platform of Facebook.

Starting July 22, all Mixer sites and apps will redirect users to the Facebook Gaming platform. Mixer partners will be able to transition to Facebook Gaming partners and streamers who rely on the monetization program of Mixer will be able to join the Level Up program of Facebook. The transition will allow Mixer viewers who have Ember balances or Mixer Pro subscriptions to make use of Xbox gift cards.

The partnership between the two companies is a part of Microsoft’s strategy to promote its xCloud game streaming service that will be launched soon. The technology company will work with Facebook Gaming to bring xCloud to the streaming platform of Facebook. This feature will allow viewers to instantly play games that are being streamed by gamers.

Analyst stock price forecast and recommendation

According to CNN Money, 31 analysts offering 12-month price forecasts for Microsoft Corp. have a median target of $200.00, with a high estimate of $250.00 and a low estimate of $145.00. The median estimate represents a -0.28% decrease from the last price of $200.57.

The same media also offers the recommendations of 35 investment analysts who have a consensus rating of “Buy” for the Microsoft Corp. stock. Out of the 35 analysts, 29 ranked the stock as “Buy”, 4 as “Hold” and 2 as “Outperform”.

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