Analysts Anticipate SITO Mobile Ltd. (NASDAQ:SITO) to Post ($0.01) EPS
SITO Mobile Ltd. (NASDAQ:SITO) has been assigned an average broker rating score of 1.20 (Strong Buy) from the five brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and four have issued a strong buy rating on the company. SITO Mobile’s rating score has improved by 9.8% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus price target of $7.50 for the company and are predicting that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also given SITO Mobile an industry rank of 189 out of 265 based on the ratings given to related companies.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of SITO Mobile from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research report on Wednesday, September 7th. Maxim Group assumed coverage on shares of SITO Mobile in a research report on Monday, June 13th. They issued a “buy” rating and a $8.00 price target on the stock. Craig Hallum assumed coverage on shares of SITO Mobile in a research report on Wednesday, July 6th. They issued a “buy” rating and a $6.50 price target on the stock. Finally, Aegis assumed coverage on shares of SITO Mobile in a research report on Monday, September 12th. They issued a “buy” rating and a $6.50 price target on the stock.
SITO Mobile (NASDAQ:SITO) opened at 4.37 on Tuesday. The stock’s 50 day moving average is $4.69 and its 200-day moving average is $3.56. The firm’s market capitalization is $75.94 million. SITO Mobile has a 52 week low of $1.55 and a 52 week high of $6.08.
SITO Mobile (NASDAQ:SITO) last posted its quarterly earnings results on Monday, August 15th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.08. SITO Mobile had a negative net margin of 12.28% and a negative return on equity of 48.98%. On average, equities research analysts expect that SITO Mobile will post $0.03 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. BlackRock Fund Advisors increased its stake in shares of SITO Mobile by 917.7% in the second quarter. BlackRock Fund Advisors now owns 30,420 shares of the company’s stock valued at $110,000 after buying an additional 27,431 shares in the last quarter. Baird Financial Group Inc. bought a new position in SITO Mobile during the second quarter valued at approximately $235,000. Finally, Cannell Peter B & Co. Inc. boosted its position in SITO Mobile by 20.2% in the second quarter. Cannell Peter B & Co. Inc. now owns 541,695 shares of the company’s stock valued at $1,961,000 after buying an additional 91,000 shares during the last quarter. Hedge funds and other institutional investors own 18.99% of the company’s stock.
SITO Mobile Company Profile
SITO Mobile Ltd., formerly Single Touch Systems Inc, is a provider of mobile location-based advertising platform serving businesses, advertisers and brands. The Company provides solutions through its platform, which allows marketers to create content targeted to audiences, based on location, interests, behaviors and loyalty.
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