It certainly was a great day for the Catapult Group International Ltd (ASX: CAT) share price.
The sports analytics company's shares finished the day higher by 14% to $1.58. This brought its one-month return to almost 20%.
Why did its shares rocket higher?
With no news out of the company and no broker notes to speak of, today's sizeable gain is actually a bit of a mystery.
However, with its next quarterly result due to be released in two and half weeks and its shares down 37% this year, it appears as though some investors have seen the current share price as a buying opportunity.
Which wouldn't be too surprising, as at the start of last month Bell Potter slapped a price target of $2.00 on Catapult's shares.
Although this was a reduction to its previous valuation and came amid a downgrade from a buy rating to hold, it is still significantly higher than where it trades today.
Should you invest?
Whilst I'm not in a rush to invest and would instead prefer to wait to see if there is an improvement at its next quarterly update, there's no doubt that its shares could be classed as great value if its performance improves.
After all, Bell Potter's price target implies further upside of over 26% for its shares from Friday's close price.
In the meantime, I think investors ought to consider fellow tech shares Altium Limited (ASX: ALU) and Aconex Ltd (ASX: ACX).
