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

Berenberg Bank reiterated their buy rating on shares of Bytes Technology Group (LON:BYIT) in a report released on Thursday morning,Digital Look reports. The brokerage currently has a GBX 520 price target on the stock.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised Bytes Technology Group to a “buy” rating and increased their target price for the stock from GBX 410 to GBX 500 in a report on Wednesday, August 26th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 450 price target on shares of Bytes Technology Group in a report on Wednesday. Two 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, Bytes Technology Group presently has a consensus rating of “Hold” and an average price target of GBX 443.75.

Bytes Technology Group Trading Up 0.1%

Shares of BYIT stock opened at GBX 443.80 on Thursday. The firm has a market cap of £1.02 billion, a P/E ratio of 21.40, a PEG ratio of 2.27 and a beta of 0.72. Bytes Technology Group has a 1-year low of GBX 232.92 and a 1-year high of GBX 494.20. The firm’s 50-day simple moving average is GBX 426.69 and its 200-day simple 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 (LON:BYIT) last announced its quarterly earnings data 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, equities analysts forecast that Bytes Technology Group will post 11.35 EPS for the current year.

Bytes Technology Group Company Profile

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.