Bytes Technology Group’s (BYIT) Buy Rating Reiterated at Berenberg Bank

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating reaffirmed by Berenberg Bank in a research report issued on Thursday, Digital Look reports. They currently have a GBX 520 target price on the stock. Berenberg Bank’s price target would suggest a potential upside of 17.17% from the stock’s current price.

BYIT has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a “buy” rating and lifted their price objective for the company from GBX 410 to GBX 500 in a research report on Wednesday, August 26th. Jefferies Financial Group restated a “hold” rating and set a GBX 450 target price on shares of Bytes Technology Group in a report on Wednesday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of GBX 443.75.

Bytes Technology Group Stock Performance

LON:BYIT opened at GBX 443.80 on Thursday. Bytes Technology Group has a 1 year low of GBX 232.92 and a 1 year high of GBX 494.20. The firm has a 50 day moving average of GBX 426.69 and a 200-day moving average of GBX 381.64. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 2.94. The stock has a market capitalization 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 announced its earnings results on Tuesday, October 13th. The company reported GBX 12.76 EPS for the quarter. Bytes Technology Group had a return on equity of 69.17% and a net margin of 21.65%. As a group, sell-side analysts anticipate that Bytes Technology Group will post 11.35 EPS 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.