Citi maintains buy rating on LiveTiles (ASX:LVT), expects record second quarter

Company News

by Anna Napoli

Citi has maintained its buy rating on software company LiveTiles. The broker says it is looking for a record second quarter after a weaker-than-expected first quarter.

Citi has reduced its target price Target to $0.63 from $0.75 to reflect slower ARR growth and incremental costs from the acquisition of CYCL.

If LVT meets the Citi target it will return approximately 133 per cent.

Revenue and operating earnings forecasts increase in FY20 as the broker now models non-recurring revenue from Wizdom and CYCL separately.

Shares in LiveTiles (ASX:LVT) are trading flat at $0.27.