Bytes Technology Group (LON:BYIT) Given New GBX 360 Price Target at Berenberg Bank

Bytes Technology Group (LON:BYIT) had its price objective lowered by equities research analysts at Berenberg Bank from GBX 390 to GBX 360 in a report released on Wednesday,London Stock Exchange reports. The brokerage currently has a “hold” rating on the stock. Berenberg Bank’s target price would indicate a potential upside of 6.76% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Shore Capital Group reiterated a “hold” rating on shares of Bytes Technology Group in a research note on Wednesday, March 25th. UBS Group reaffirmed a “neutral” rating and issued a GBX 305 price target on shares of Bytes Technology Group in a report on Monday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 320 price objective on shares of Bytes Technology Group in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of GBX 417.17.

Bytes Technology Group Stock Up 1.6%

Shares of LON BYIT opened at GBX 337.20 on Wednesday. Bytes Technology Group has a 52-week low of GBX 232.92 and a 52-week high of GBX 549. The firm has a market capitalization of £797.04 million, a price-to-earnings ratio of 15.77, a PEG ratio of 2.27 and a beta of 0.68. The stock has a 50 day moving average price of GBX 299.11 and a 200 day moving average price of GBX 326.89. The company has a debt-to-equity ratio of 3.98, a quick ratio of 0.98 and a current ratio of 1.05.

Bytes Technology Group (LON:BYIT) last posted its earnings results on Tuesday, May 12th. The company reported GBX 21.40 EPS for the quarter. The business had revenue of £220.56 million for the quarter. Bytes Technology Group had a net margin of 24.31% and a return on equity of 60.89%. Sell-side analysts expect that Bytes Technology Group will post 11.3463262 earnings per share for the current year.

Bytes Technology Group Company Profile

With a 40-year track record, Bytes Technology Group is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware, and AI and cloud services.

Our strong relationships with many of the world’s largest software companies enable our specialist staff to deliver the latest technology to a diverse and embedded customer base. This has resulted in our long track record of strong financial performance.