Bytes Technology Group (LON:BYIT) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group cut shares of Bytes Technology Group (LON:BYIT) to a hold rating in a report published on Wednesday morning, Marketbeat.com reports. Jefferies Financial Group currently has GBX 400 price target on the stock, down from their prior price target of GBX 447.

Several other brokerages have also recently commented on BYIT. Peel Hunt reiterated a “buy” rating and issued a GBX 638 target price on shares of Bytes Technology Group in a report on Thursday, September 18th. Shore Capital reaffirmed a “hold” rating and issued a GBX 410 price objective on shares of Bytes Technology Group in a research note on Tuesday, October 14th. Finally, Berenberg Bank reissued a “hold” rating and set a GBX 390 target price on shares of Bytes Technology Group in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of GBX 461.60.

Bytes Technology Group Stock Performance

BYIT stock opened at GBX 354.60 on Wednesday. The firm has a market cap of £838.02 million, a PE ratio of 16.59, a P/E/G ratio of 2.27 and a beta of 0.65. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is GBX 352.68 and its two-hundred day moving average price is GBX 369.91. Bytes Technology Group has a 1-year low of GBX 232.92 and a 1-year high of GBX 563.

Bytes Technology Group (LON:BYIT) last posted its earnings results on Tuesday, October 14th. The company reported GBX 12.03 EPS for the quarter. Bytes Technology Group had a net margin of 25.47% and a return on equity of 66.59%. As a group, research analysts forecast that Bytes Technology Group will post 11.3463262 earnings per share for the current year.

Bytes Technology Group Company Profile

With a 40-year track record, Bytes Technology Group is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware, and AI and cloud services.

Our strong relationships with many of the world’s largest software companies enable our specialist staff to deliver the latest technology to a diverse and embedded customer base. This has resulted in our long track record of strong financial performance.