It certainly was a positive end to the week for the LiveTiles Ltd (ASX: LVT) share price.
The workplace software company’s shares finished the day with a gain of almost 8% to 48 cents.
Why did the LiveTiles share price surge higher?
Investors have responded positively to news that LiveTiles has been awarded the 2018 Microsoft US Partner of the Year Award for Modern Workplace Transformation.
According to the release, LiveTiles was recognised for its “leadership in customer impact, solution innovation, deployment and exceptional use of advanced features in Microsoft technology over the past year.”
Management believes this award is a testament to its growing relationship with Microsoft in the world’s largest economy.
LiveTiles co-founder and chief executive officer, Karl Redenbach, stated that: “To be recognised as the leading partner for modern workplace transformation in the world’s largest economy is extremely exciting. Our teams around the world have worked hard to drive our success in this region and set up LiveTiles to continue its strong growth early in the new financial year and beyond.”
Is LiveTiles a buy?
I think that LiveTiles is one of the most exciting small cap tech shares on the Australian share market and I’m not alone.
A recent broker note from Citi revealed that it has a buy (high risk) rating with a 56 cents price target on its shares. Citi made the move on the back of LiveTiles’ arrangement with key Microsoft sales and marketing vendor N3, believing that it has the potential to be material in the future.
While I’m not ready to make an investment yet, I do think it is worth keeping it on your watchlist.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium and Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.