Bytes Technology Group (LON:BYIT) Stock Rating Reaffirmed as Buy by Berenberg Bank

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating restated by analysts at Berenberg Bank in a report released on Thursday, October 15th, Digital Look reports. They presently have a GBX 520 target price on the stock. Berenberg Bank‘s target price indicates a potential upside of 14.24% from the stock’s previous close.

A number of other research firms have also commented on BYIT. Jefferies Financial Group reissued a “hold” rating and issued a GBX 450 price target on shares of Bytes Technology Group in a research report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft raised shares of Bytes Technology Group to a “buy” rating and raised their price target for the company from GBX 410 to GBX 500 in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Bytes Technology Group has a consensus rating of “Hold” and a consensus target price of GBX 443.75.

Bytes Technology Group Stock Up 0.4%

BYIT traded up GBX 1.60 during midday trading on Thursday, reaching GBX 455.20. 1,032,729 shares of the company were exchanged, compared to its average volume of 2,582,657. The company has a market cap of £1.05 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72. Bytes Technology Group has a one year low of GBX 232.92 and a one year high of GBX 494.20. The company’s fifty day moving average price is GBX 429.09 and its 200 day moving average price is GBX 386.08. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.98 and a current ratio of 1.03.

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