Bytes Technology Group plc (LON:BYIT) Receives Average Recommendation of “Hold” from Analysts

Bytes Technology Group plc (LON:BYIT) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is GBX 403.83.

A number of brokerages recently issued reports on BYIT. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 320 price target on shares of Bytes Technology Group in a report on Tuesday, May 12th. Berenberg Bank lowered their price target on Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating for the company in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 390 price target on shares of Bytes Technology Group in a report on Wednesday, May 13th. Shore Capital Group reaffirmed a “hold” rating on shares of Bytes Technology Group in a report on Wednesday, March 25th. Finally, UBS Group reissued a “neutral” rating and issued a GBX 305 price objective on shares of Bytes Technology Group in a report on Monday, May 11th.

Bytes Technology Group Stock Performance

Shares of BYIT opened at GBX 349 on Monday. The stock has a 50 day moving average price of GBX 301.22 and a 200 day moving average price of GBX 326.24. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 2.44. The company has a market capitalization of £824.93 million, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68. Bytes Technology Group has a 52-week low of GBX 232.92 and a 52-week high of GBX 549.

Bytes Technology Group (LON:BYIT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported GBX 21.40 earnings per share (EPS) for the quarter. The firm had revenue of £220.56 million during the quarter. Bytes Technology Group had a return on equity of 64.69% and a net margin of 23.25%. Research analysts predict 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.