Bytes Technology Group plc (LON:BYIT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bytes Technology Group plc (LON:BYIT) have been given an average recommendation of “Hold” by the six brokerages that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is GBX 403.83.

A number of equities research analysts have recently issued reports on BYIT shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 320 target price on shares of Bytes Technology Group in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 390 target price on shares of Bytes Technology Group in a report on Wednesday, May 13th. Shore Capital Group reaffirmed a “hold” rating on shares of Bytes Technology Group in a report on Wednesday, March 25th. Berenberg Bank dropped their target price on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating on the stock in a report on Wednesday, May 13th. Finally, UBS Group reissued a “neutral” rating and issued a GBX 305 price target on shares of Bytes Technology Group in a report on Monday, May 11th.

Bytes Technology Group Stock Up 4.0%

Shares of BYIT stock opened at GBX 382 on Friday. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.98 and a current ratio of 1.05. The firm’s 50-day moving average is GBX 318.73 and its 200-day moving average is GBX 326.23. The stock has a market cap of £902.93 million, a price-to-earnings ratio of 18.42, a PEG ratio of 2.27 and a beta of 0.68. Bytes Technology Group has a 52-week low of GBX 232.92 and a 52-week high of GBX 546.

Bytes Technology Group (LON:BYIT) last issued its earnings results on Tuesday, May 12th. The company reported GBX 21.40 earnings per share (EPS) for the quarter. The company had revenue of £220.56 million for the quarter. Bytes Technology Group had a net margin of 23.25% and a return on equity of 64.69%. Sell-side analysts predict that Bytes Technology Group will post 11.3463262 EPS 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.