Analysts expect that Sito Mobile Ltd (NASDAQ:SITO) will announce sales of $12.40 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sito Mobile’s earnings, with the lowest sales estimate coming in at $12.30 million and the highest estimate coming in at $12.50 million. Sito Mobile reported sales of $7.46 million during the same quarter last year, which indicates a positive year-over-year growth rate of 66.2%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, March 21st.

On average, analysts expect that Sito Mobile will report full year sales of $12.40 million for the current financial year, with estimates ranging from $41.00 million to $41.02 million. For the next year, analysts expect that the business will report sales of $52.50 million per share, with estimates ranging from $51.20 million to $53.80 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Sito Mobile.

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A number of equities research analysts have recently weighed in on the stock. ValuEngine lowered shares of Sito Mobile from a “hold” rating to a “sell” rating in a report on Tuesday. Ladenburg Thalmann Financial Services raised shares of Sito Mobile from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, December 14th. Zacks Investment Research raised shares of Sito Mobile from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $10.00 price target on shares of Sito Mobile in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $9.00.

In other Sito Mobile news, CEO Thomas Pallack purchased 5,625 shares of the stock in a transaction on Friday, December 29th. The shares were bought at an average cost of $6.60 per share, with a total value of $37,125.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.46% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Cannell Peter B & Co. Inc. boosted its holdings in 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 valued at $6,305,000 after purchasing an additional 85,300 shares during the last quarter. National Asset Management Inc. boosted its holdings in Sito Mobile by 3.7% in the fourth quarter. National Asset Management Inc. now owns 707,000 shares of the Wireless communications provider’s stock valued at $4,752,000 after purchasing an additional 25,000 shares during the last quarter. EAM Investors LLC purchased a new stake in shares of Sito Mobile during the 4th quarter worth about $2,219,000. Millennium Management LLC purchased a new stake in shares of Sito Mobile during the 4th quarter worth about $818,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Sito Mobile during the 3rd quarter worth about $204,000. 13.41% of the stock is currently owned by institutional investors.

Shares of Sito Mobile stock opened at $4.58 on Thursday. The firm has a market cap of $108.54, a price-to-earnings ratio of -8.98 and a beta of -1.36. Sito Mobile has a 1-year low of $2.06 and a 1-year high of $8.60.

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About Sito Mobile

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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