I have 2 yoe, here is the offer that they've told me.

Education: BS
Years of Experience: 2
Prior Experience: FactSet
Date of the Offer: 6/4/2019
Company: Microsoft
Title/Level: 60
Location: Redmond, WA
Salary: 120k
Relocation/Signing Bonus: 10k sign, 13.5k relocation
Stock bonus: 25k/4
Bonus: upto 20%
Total comp (Salary + Bonus + Stock): 136.250
Benefits: insurance etc
Other details:

I think the base is alright but the rest sounds low. I didn't graduate from Ivy league. However, I think I did great at onsite interview.

I am suspecting that the external hiring company forgot about me for a bit and they might already have some other people accept their offers for the same position. This makes me a bit uncomfortable about counter offering.

I do not have any other offers to negotiate with. What should I do? I wanted to commit to msft for a long time but now I am conflicted.

Edit: About being forgotten, they told me that I got accepted 2 days after the interview but they only continued the process after I e-mailed them back about how I haven't heard back. I got the offer two and a half weeks after the interview

I'm considering negotiating for 120k base, 120k stock and 30k sign bonus.