Bytes Technology Group’s (BYIT) “Hold” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of Bytes Technology Group (LON:BYIT) in a research report report published on Wednesday morning,Digital Look reports. The brokerage currently has a GBX 450 price target on the stock.

Separately, Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a “buy” rating and upped their price objective for the company from GBX 410 to GBX 500 in a research note on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of GBX 443.75.

Bytes Technology Group Price Performance

LON BYIT opened at GBX 443.80 on Wednesday. The stock’s 50-day moving average is GBX 426.69 and its two-hundred day moving average is GBX 381.64. The company has a debt-to-equity ratio of 2.94, a current ratio of 1.03 and a quick ratio of 0.98. Bytes Technology Group has a fifty-two week low of GBX 232.92 and a fifty-two week high of GBX 494.20. The firm has a market cap of £1.02 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72.

Bytes Technology Group (LON:BYIT) last released its earnings results on Tuesday, October 13th. The company reported GBX 12.76 earnings per share for the quarter. Bytes Technology Group had a net margin of 21.65% and a return on equity of 69.17%. On average, analysts anticipate that Bytes Technology Group will post 11.35 earnings per share for the current fiscal 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.