Sito Mobile (NASDAQ:SITO)‘s stock had its “buy” rating reiterated by analysts at Maxim Group in a note issued to investors on Monday. They presently have a $10.00 price objective on the Wireless communications provider’s stock. Maxim Group’s target price indicates a potential upside of 64.20% from the company’s previous close.
The analysts wrote, “We reiterate our Buy rating and $10 price target and argue investors should buy SITO shares ahead of the stronger results we estimate in 4Q17 and 2018.””
Several other research firms have also recently commented on SITO. Ladenburg Thalmann Financial Services cut Sito Mobile from a “buy” rating to a “neutral” rating and set a $9.00 target price for the company. in a research note on Friday, November 17th. Cowen reaffirmed an “outperform” rating on shares of Sito Mobile in a research report on Wednesday, November 15th. Lake Street Capital started coverage on Sito Mobile in a research report on Wednesday, October 25th. They issued a “buy” rating and a $10.00 target price for the company. Craig Hallum raised Sito Mobile from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, October 30th. Finally, upped their price objective on Sito Mobile from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.00.
Sito Mobile (NASDAQ:SITO) last posted its earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.06). Sito Mobile had a negative net margin of 29.34% and a negative return on equity of 47.82%. The business had revenue of $11.10 million during the quarter, compared to analysts’ expectations of $11.34 million. The business’s quarterly revenue was up 29.7% compared to the same quarter last year. research analysts anticipate that Sito Mobile will post -0.44 earnings per share for the current fiscal year.
In other Sito Mobile news, CEO Thomas Pallack bought 5,625 shares of the business’s stock in a transaction on Friday, December 29th. The stock was purchased at an average price of $6.60 per share, for a total transaction of $37,125.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.46% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Private Advisor Group LLC purchased a new stake in shares of Sito Mobile in the third quarter worth about $204,000. National Asset Management Inc. lifted its holdings in shares of Sito Mobile by 270.4% in 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 in the last quarter. Finally, Cannell Peter B & Co. Inc. lifted its holdings in shares of Sito Mobile by 10.7% in 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 in the last quarter. Hedge funds and other institutional investors own 12.08% 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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