Bytes Technology Group plc (LON:BYIT) Given Consensus Rating of “Hold” by Analysts

Shares of Bytes Technology Group plc (LON:BYIT) have received an average recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is £620.17.

BYIT has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Bytes Technology Group from £3,200 to £3,700 and gave the company a “hold” rating in a research report on Thursday, June 25th. Berenberg Bank cut their price objective on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating for the company in a research report on Wednesday, May 13th. UBS Group restated a “neutral” rating and issued a GBX 305 price objective on shares of Bytes Technology Group in a research report on Monday, May 11th. Shore Capital Group restated a “hold” rating on shares of Bytes Technology Group in a research report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 390 price objective on shares of Bytes Technology Group in a research report on Wednesday, May 13th.

Bytes Technology Group Price Performance

BYIT opened at GBX 376.46 on Tuesday. The company has a market capitalization of £885.92 million, a price-to-earnings ratio of 18.15, a PEG ratio of 2.27 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 2.44. The firm has a 50-day moving average price of GBX 346.22 and a 200-day moving average price of GBX 328.79. Bytes Technology Group has a twelve month low of GBX 232.92 and a twelve month high of GBX 516.

Bytes Technology Group (LON:BYIT) last released its quarterly earnings data on Tuesday, May 12th. The company reported GBX 21.40 EPS for the quarter. Bytes Technology Group had a net margin of 23.25% and a return on equity of 64.69%. The company had revenue of £220.56 million during the quarter. Equities analysts expect that Bytes Technology Group will post 11.3463262 EPS for the current year.

About Bytes Technology Group

BTG is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. With a team of more than 1,200 talented people, it serves around 6,000 customers in the corporate and public sectors, building lasting, trust-based relationships to help organisations get the most from the latest transformative technologies shaping our world.

As a value-added reseller, BTG works hand in hand with more than 100 of the world’s biggest vendors who make or distribute the software, hardware and other IT products that it provides to its customers.