Analysts Set SITO Mobile, Ltd. (SITO) Price Target at $5.58
SITO Mobile, Ltd. (NASDAQ:SITO) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $5.58.
Several research analysts recently issued reports on the company. Maxim Group restated a “buy” rating and set a $4.00 price objective on shares of SITO Mobile in a research report on Friday, May 5th. ValuEngine downgraded SITO Mobile from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Ladenburg Thalmann Financial Services lifted their price objective on SITO Mobile from $7.20 to $7.80 and gave the stock a “buy” rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded SITO Mobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Craig Hallum downgraded SITO Mobile from a “buy” rating to a “hold” rating in a research report on Friday, August 11th.
SITO Mobile (SITO) traded down 0.47% during midday trading on Tuesday, hitting $4.26. The stock had a trading volume of 14,639 shares. The firm’s market cap is $93.32 million. The stock has a 50-day moving average price of $4.66 and a 200 day moving average price of $3.48. SITO Mobile has a 12-month low of $1.71 and a 12-month high of $6.48.
SITO Mobile (NASDAQ:SITO) last issued its quarterly earnings data on Thursday, August 17th. The Wireless communications provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. SITO Mobile had a negative return on equity of 24.74% and a negative net margin of 20.97%. The company had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.75 million. On average, equities analysts anticipate that SITO Mobile will post ($0.37) earnings per share for the current fiscal year.
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In other news, Director Chester Petrow bought 68,800 shares of the stock in a transaction on Thursday, August 24th. The stock was purchased at an average cost of $3.98 per share, with a total value of $273,824.00. Following the purchase, the director now owns 286,968 shares of the company’s stock, valued at $1,142,132.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Itzhak Fisher bought 100,000 shares of the stock in a transaction on Thursday, June 15th. The stock was purchased at an average cost of $3.47 per share, with a total value of $347,000.00. The disclosure for this purchase can be found here. 6.50% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in SITO Mobile stock. Regentatlantic Capital LLC increased its stake in shares of SITO Mobile, Ltd. (NASDAQ:SITO) by 9.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,079 shares of the Wireless communications provider’s stock after buying an additional 7,673 shares during the period. Regentatlantic Capital LLC owned about 0.43% of SITO Mobile worth $327,000 at the end of the most recent quarter. 13.83% of the stock is owned by institutional investors.
SITO Mobile Company Profile
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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