Zacks: SITO Mobile Ltd. (SITO) Given $7.50 Consensus Target Price by Analysts
SITO Mobile Ltd. (NASDAQ:SITO) has earned 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 research analyst has rated the stock with a buy rating and four have given a strong buy rating to the company. SITO Mobile’s rating score has improved by 4% in the last three months as a result of various analysts’ upgrades and downgrades.
Analysts have set a twelve-month consensus target price of $7.50 for the company and are anticipating that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned SITO Mobile an industry rank of 159 out of 265 based on the ratings given to related companies.
Several brokerages have recently issued reports on SITO. Zacks Investment Research upgraded SITO Mobile from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research report on Wednesday, September 7th. Maxim Group began coverage on SITO Mobile in a research report on Monday, June 13th. They issued a “buy” rating and a $8.00 price objective on the stock. Craig Hallum began coverage on SITO Mobile in a research report on Wednesday, July 6th. They issued a “buy” rating and a $6.50 price objective on the stock. Finally, Aegis began coverage on SITO Mobile in a research report on Monday, September 12th. They issued a “buy” rating and a $6.50 price objective on the stock.
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Shares of SITO Mobile (NASDAQ:SITO) traded down 3.21% during trading on Tuesday, reaching $5.42. The company had a trading volume of 39,996 shares. The firm has a 50-day moving average of $4.80 and a 200 day moving average of $3.76. SITO Mobile has a 52 week low of $1.55 and a 52 week high of $6.08. The firm’s market capitalization is $94.18 million.
SITO Mobile (NASDAQ:SITO) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. SITO Mobile had a negative return on equity of 48.98% and a negative net margin of 12.28%. On average, equities research analysts forecast that SITO Mobile will post $0.03 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in SITO. BlackRock Fund Advisors raised its position in 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 during the last quarter. Baird Financial Group Inc. acquired a new position in SITO Mobile during the second quarter valued at approximately $235,000. Finally, Cannell Peter B & Co. Inc. raised 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 16.05% of the company’s stock.
About SITO Mobile
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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