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

Shares of Bytes Technology Group plc (LON:BYIT) have earned a consensus rating of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is GBX 403.83.

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 320 price target on shares of Bytes Technology Group in a report on Tuesday. UBS Group reiterated a “neutral” rating and issued a GBX 305 price target on shares of Bytes Technology Group in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 390 price target on shares of Bytes Technology Group in a report on Wednesday. Shore Capital Group reiterated a “hold” rating on shares of Bytes Technology Group in a report on Wednesday, March 25th. Finally, Berenberg Bank decreased their price target on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating on the stock in a report on Wednesday.

Bytes Technology Group Stock Down 0.2%

Shares of LON BYIT opened at GBX 345.18 on Monday. The firm has a market cap of £815.90 million, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68. The firm’s 50 day moving average price is GBX 301.22 and its 200 day moving average price is GBX 326.54. Bytes Technology Group has a 1 year low of GBX 232.92 and a 1 year high of GBX 549. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.98 and a current ratio of 1.05.

Bytes Technology Group (LON:BYIT) last announced 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 for the quarter. Bytes Technology Group had a net margin of 23.25% and a return on equity of 64.69%. As a group, sell-side analysts anticipate that Bytes Technology Group will post 11.3463262 earnings per share for the current 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.