Cowen and Company Reaffirms Outperform Rating for SITO Mobile, Ltd. (SITO)
Cowen and Company reissued their outperform rating on shares of SITO Mobile, Ltd. (NASDAQ:SITO) in a research report report published on Wednesday, The Fly reports.
A number of other analysts also recently issued reports on SITO. Craig Hallum downgraded shares of SITO Mobile from a buy rating to a hold rating in a report on Friday, August 11th. Maxim Group set a $10.00 price objective on shares of SITO Mobile and gave the stock a buy rating in a report on Wednesday. Zacks Investment Research upgraded shares of SITO Mobile from a strong sell rating to a hold rating in a report on Tuesday, October 24th. Ladenburg Thalmann Financial Services restated a buy rating and set a $7.80 price objective on shares of SITO Mobile in a report on Wednesday, August 16th. Finally, Lake Street Capital assumed coverage on shares of SITO Mobile in a report on Wednesday, October 25th. They set a buy rating and a $10.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $8.83.
Shares of SITO Mobile (SITO) opened at $8.07 on Wednesday. SITO Mobile has a 1-year low of $1.71 and a 1-year high of $8.60.
SITO Mobile (NASDAQ:SITO) last announced its earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.06). The firm had revenue of $11.10 million during the quarter, compared to analysts’ expectations of $11.34 million. SITO Mobile had a negative net margin of 29.34% and a negative return on equity of 48.66%. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. analysts forecast that SITO Mobile will post -0.38 earnings per share for the current fiscal year.
In related news, Director Chester Petrow acquired 68,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $3.98 per share, for a total transaction of $273,824.00. Following the completion of the acquisition, the director now owns 286,968 shares of the company’s stock, valued at approximately $1,142,132.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.50% of the company’s stock.
A number of large investors have recently modified their holdings of SITO. Private Advisor Group LLC bought a new position in SITO Mobile during the third quarter worth about $204,000. Regentatlantic Capital LLC boosted its position in SITO Mobile by 9.5% during the second quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock worth $327,000 after purchasing an additional 7,673 shares during the period. National Asset Management Inc. boosted its position in SITO Mobile by 270.4% during the second quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock worth $1,855,000 after purchasing an additional 365,000 shares during the period. Finally, Cannell Peter B & Co. Inc. boosted its position in SITO Mobile by 10.7% during the third quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock worth $6,305,000 after purchasing an additional 85,300 shares during the period. Hedge funds and other institutional investors own 13.65% of the company’s stock.
SITO Mobile Company Profile
SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.
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