SITO Mobile, Ltd. (SITO) Stock Rating Lowered by Ladenburg Thalmann Financial Services
SITO Mobile, Ltd. (NASDAQ:SITO) was downgraded by stock analysts at Ladenburg Thalmann Financial Services from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday. They presently have a $9.00 price objective on the Wireless communications provider’s stock. Ladenburg Thalmann Financial Services’ target price would suggest a potential upside of 11.52% from the company’s previous close.
Several other equities research analysts have also recently commented on the stock. boosted their price target on shares of SITO Mobile from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday. Maxim Group reiterated a “buy” rating and issued a $8.00 price target (up from $5.00) on shares of SITO Mobile in a research report on Wednesday, September 27th. Craig Hallum upgraded shares of SITO Mobile from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, October 30th. Lake Street Capital began coverage on shares of SITO Mobile in a research report on Wednesday, October 25th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of SITO Mobile from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $8.83.
Shares of SITO Mobile (NASDAQ:SITO) opened at $8.07 on Friday. SITO Mobile has a 1-year low of $1.71 and a 1-year high of $8.60.
SITO Mobile (NASDAQ:SITO) last posted its quarterly earnings data on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $11.10 million during the quarter, compared to analyst estimates of $11.34 million. SITO Mobile had a negative return on equity of 47.82% and a negative net margin of 29.34%. The firm’s quarterly revenue was up 29.7% compared to the same quarter last year. research analysts anticipate that SITO Mobile will post -0.42 earnings per share for the current fiscal year.
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In related news, Director Chester Petrow acquired 68,800 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were purchased at an average price of $3.98 per share, for a total transaction of $273,824.00. Following the acquisition, the director now owns 286,968 shares in the company, valued at $1,142,132.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC acquired a new position in shares of SITO Mobile in the 3rd quarter valued at about $204,000. Regentatlantic Capital LLC grew its stake in shares of SITO Mobile by 9.5% in the 2nd quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock valued at $327,000 after buying an additional 7,673 shares in the last quarter. National Asset Management Inc. grew its stake in shares of SITO Mobile by 270.4% in the 2nd quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock valued at $1,855,000 after buying an additional 365,000 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. grew its stake in shares of SITO Mobile by 10.7% in the 3rd quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock valued at $6,305,000 after buying an additional 85,300 shares in the last quarter. Hedge funds and other institutional investors own 13.65% of the company’s stock.
About SITO Mobile
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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