Sito Mobile (SITO) Lifted to Hold at Zacks Investment Research

Sito Mobile (NASDAQ:SITO) was upgraded by Zacks Investment Research from a “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. “

A number of other equities analysts also recently weighed in on the stock. Craig Hallum raised shares of Sito Mobile from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, October 30th. boosted their price target on shares of Sito Mobile from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Ladenburg Thalmann Financial Services raised shares of Sito Mobile from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, December 14th. Cowen reissued an “outperform” rating on shares of Sito Mobile in a report on Wednesday, November 15th. Finally, Lake Street Capital initiated coverage on shares of Sito Mobile in a report on Wednesday, October 25th. They issued a “buy” rating and a $10.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Sito Mobile has a consensus rating of “Buy” and an average price target of $9.00.

Shares of Sito Mobile (NASDAQ SITO) traded down $0.39 during trading hours on Wednesday, hitting $6.52. 208,600 shares of the company were exchanged, compared to its average volume of 131,770. The stock has a market cap of $152.21, a P/E ratio of -12.78 and a beta of -1.21. Sito Mobile has a 52 week low of $1.71 and a 52 week high of $8.60.

Sito Mobile (NASDAQ:SITO) last issued its quarterly earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.06). The company had revenue of $11.10 million during the quarter, compared to analysts’ expectations of $11.34 million. Sito Mobile had a negative return on equity of 47.82% and a negative net margin of 29.34%. Sito Mobile’s quarterly revenue was up 29.7% on a year-over-year basis. analysts anticipate that Sito Mobile will post -0.44 EPS for the current fiscal year.

In other news, CEO Thomas Pallack acquired 5,625 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were acquired at an average cost of $6.60 per share, for a total transaction of $37,125.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.46% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SITO. Perkins Capital Management Inc. bought a new stake in Sito Mobile in the 3rd quarter valued at about $198,000. Private Advisor Group LLC bought a new stake in Sito Mobile in the 3rd quarter valued at about $204,000. Baird Financial Group Inc. raised its stake in Sito Mobile by 5.1% in the 4th quarter. Baird Financial Group Inc. now owns 68,300 shares of the Wireless communications provider’s stock valued at $252,000 after acquiring an additional 3,301 shares during the period. Regentatlantic Capital LLC raised its stake in 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 acquiring an additional 7,673 shares during the period. Finally, National Asset Management Inc. bought a new stake in Sito Mobile in the 1st quarter valued at about $347,000. Institutional investors and hedge funds own 12.48% of the company’s stock.

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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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