Bytes Technology Group plc (LON:BYIT) Given Average Recommendation of “Hold” by Brokerages

Bytes Technology Group plc (LON:BYIT) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is £620.17.

Several equities research analysts have issued reports on BYIT shares. Berenberg Bank dropped their target price on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating for the company in a research report on Wednesday, May 13th. Jefferies Financial Group lifted their target price on shares of Bytes Technology Group from £3,200 to £3,700 and gave the company a “hold” rating in a research report on Thursday, June 25th. UBS Group reiterated a “neutral” rating and set a GBX 305 target price on shares of Bytes Technology Group in a research report on Monday, May 11th. Shore Capital Group reiterated a “hold” rating on shares of Bytes Technology Group in a research report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 390 price target on shares of Bytes Technology Group in a research note on Wednesday, May 13th.

Bytes Technology Group Trading Down 0.3%

Shares of Bytes Technology Group stock opened at GBX 376.46 on Tuesday. Bytes Technology Group has a 1 year low of GBX 232.92 and a 1 year high of GBX 516. The firm has a market cap of £885.92 million, a PE ratio of 18.15, a PEG ratio of 2.27 and a beta of 0.72. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.05 and a quick ratio of 0.98. The company has a 50 day simple moving average of GBX 346.22 and a two-hundred day simple moving average of GBX 328.79.

Bytes Technology Group (LON:BYIT) last announced its earnings results on Tuesday, May 12th. The company reported GBX 21.40 earnings per share (EPS) for the quarter. Bytes Technology Group had a net margin of 23.25% and a return on equity of 64.69%. The business had revenue of £220.56 million during the quarter. Analysts expect that Bytes Technology Group will post 11.3463262 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.