SITO Mobile, Ltd. (SITO) Upgraded to “Hold” by Zacks Investment Research
SITO Mobile, Ltd. (NASDAQ:SITO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “SITO Mobile Limited is a technology based mobile solutions provider. The Company provides wireless application development, publishing and distribution. It offers mobile location-based advertising and mobile messaging platforms that enable brands, agencies, and retailers to transform digital marketing by delivering targeted mobile advertising campaigns based on geo-location, in-store traffic, and customer response. SITO Mobile Limited, formerly known as Single Touch Systems, Inc., is based in Jersey City, New Jersey. “
SITO has been the subject of several other reports. Maxim Group reissued a “buy” rating and issued a $4.00 target price on shares of SITO Mobile in a research report on Friday, May 5th. Ladenburg Thalmann Financial Services decreased their target price on shares of SITO Mobile from $8.00 to $7.20 and set a “buy” rating for the company in a research report on Wednesday, March 29th. Taglich Brothers downgraded shares of SITO Mobile from a “speculative buy” rating to a “neutral” rating in a research report on Wednesday, April 5th. ValuEngine downgraded shares of SITO Mobile from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Cowen and Company decreased their target price on shares of SITO Mobile from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. SITO Mobile currently has an average rating of “Hold” and an average target price of $5.34.
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Several hedge funds have recently bought and sold shares of the company. Baird Financial Group Inc. increased its stake in SITO Mobile by 5.1% in the fourth quarter. Baird Financial Group Inc. now owns 68,300 shares of the Wireless communications provider’s stock valued at $252,000 after buying an additional 3,301 shares in the last quarter. Perritt Capital Management Inc. increased its stake in SITO Mobile by 20.0% in the fourth quarter. Perritt Capital Management Inc. now owns 150,000 shares of the Wireless communications provider’s stock valued at $554,000 after buying an additional 25,000 shares in the last quarter. Vanguard Group Inc. increased its stake in SITO Mobile by 27.0% in the first quarter. Vanguard Group Inc. now owns 631,444 shares of the Wireless communications provider’s stock valued at $1,623,000 after buying an additional 134,154 shares in the last quarter. Finally, National Asset Management Inc. purchased a new stake in SITO Mobile during the first quarter valued at about $347,000. 14.20% of the stock is owned by institutional investors and hedge funds.
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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