Bytes Technology Group’s (BYIT) Buy Rating Reiterated at Deutsche Bank Aktiengesellschaft

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Deutsche Bank Aktiengesellschaft in a note issued to investors on Wednesday,London Stock Exchange reports. They currently have a GBX 390 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 16.31% from the company’s current price.

BYIT has been the topic of a number of other research reports. Shore Capital Group reissued a “hold” rating on shares of Bytes Technology Group in a research note on Wednesday, March 25th. Berenberg Bank dropped their target price on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating on the stock in a research report on Wednesday. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 320 price objective on shares of Bytes Technology Group in a report on Tuesday. Finally, UBS Group reiterated a “neutral” rating and set a GBX 305 price objective on shares of Bytes Technology Group in a research note on Monday. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bytes Technology Group presently has a consensus rating of “Hold” and a consensus price target of GBX 403.83.

Bytes Technology Group Price Performance

LON:BYIT opened at GBX 335.30 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 3.98. Bytes Technology Group has a 52 week low of GBX 232.92 and a 52 week high of GBX 549. The stock’s 50-day moving average price is GBX 299.11 and its 200-day moving average price is GBX 326.89. The stock has a market capitalization of £792.55 million, a PE ratio of 15.68, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68.

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

About Bytes Technology Group

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.