SITO Mobile, Ltd. (SITO) Receives Average Rating of “Buy” from Analysts
SITO Mobile, Ltd. (NASDAQ:SITO) has been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.96.
A number of research firms have recently weighed in on SITO. Craig Hallum upgraded SITO Mobile from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Monday, October 30th. Zacks Investment Research upgraded SITO Mobile from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. Lake Street Capital began coverage on SITO Mobile in a report on Wednesday, October 25th. They set a “buy” rating and a $10.00 target price for the company. Maxim Group restated a “buy” rating and set a $8.00 target price (up from $5.00) on shares of SITO Mobile in a report on Wednesday, September 27th. Finally, ValuEngine upgraded SITO Mobile from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd.
SITO Mobile (SITO) traded up $0.46 during midday trading on Friday, reaching $7.14. The company had a trading volume of 202,100 shares, compared to its average volume of 235,971. SITO Mobile has a 1 year low of $1.71 and a 1 year high of $8.60.
SITO Mobile (NASDAQ:SITO) last issued its earnings results on Thursday, August 17th. The Wireless communications provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). The company had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $10.75 million. SITO Mobile had a negative net margin of 20.97% and a negative return on equity of 24.74%. equities analysts predict that SITO Mobile will post -0.38 earnings per share for the current year.
In related news, Director Chester Petrow purchased 68,800 shares of SITO Mobile stock in a transaction on Thursday, August 24th. The shares were bought at an average price of $3.98 per share, with a total value of $273,824.00. Following the transaction, the director now directly owns 286,968 shares of the company’s stock, valued at $1,142,132.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Regentatlantic Capital LLC raised its position in shares of SITO Mobile by 9.5% during the 2nd quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock worth $327,000 after acquiring an additional 7,673 shares in the last quarter. National Asset Management Inc. increased 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 buying an additional 365,000 shares during the period. Finally, Cannell Peter B & Co. Inc. increased 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 buying an additional 85,300 shares during the period. 13.74% of the stock is currently owned by institutional investors and hedge funds.
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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