Citi says Australia's LiveTiles Q4 cashflow strong but too early to assess, cuts PT

Livetiles

28/07/2021 22:02

** Citi says Q4 results positive for LiveTiles Ltd  LVT.AX 
but notes that growth is still below historical levels, cuts PT
to A$0.19 from A$0.18
    ** Says Q4 is typically a seasonally stronger quarter for
the software maker and brokerage continues to be cautious in the
near term 
    ** Expects A$2.3 mln ($1.70 mln) in ARR growth in Q1 of
fiscal 2022
    ** Broker lowers FY21-FY22 revenue forecasts by 2% to 3%
reflecting slower revenue recognition due to implementation
delays 
    ** Would like to see consistent execution in light of the
co’s new strategy and product focus, before we turn more
positive - Citi
    ** Stock on Wednesday posted a 17% rise in ARR to A$62.8 mln
 urn:newsml:reuters.com:*:nASXZSycl
    ** Stock down 37.5% this year, as of last close


($1 = 1.3552 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))