Citi opens 'positive catalyst watch' on MicroStrategy into Q2 results
Citi analyst Walter Pritchard opened a "positive catalyst watch" on MicroStrategy into the company's Q2 results. The analyst keeps a Neutral rating on the shares with a $200 price target. The provider of enterprise software platforms closed yesterday up $1.09 to $185.82. Estimates provide a "good possibility of a positive surprise which should take shares higher," Pritchard tells investors in a research note partially titled "2Q17 set-up too compelling to ignore." He points out that while the company has struggled recently to grow license revenue, Q2 marks the easiest comp in five quarters with license revenue declining 20% year-over-year a year ago. The analyst attributes volatile business trends for why he's not upgrading the shares to Buy.