Maxim Group Analysts Give SITO Mobile, Ltd. (NASDAQ:SITO) a $4.00 Price Target
SITO Mobile, Ltd. (NASDAQ:SITO) received a $4.00 price target from investment analysts at Maxim Group in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the Wireless communications provider’s stock. Maxim Group’s target price would indicate a potential downside of 12.28% from the company’s previous close.
SITO has been the subject of several other research reports. ValuEngine lowered shares of SITO Mobile from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Ladenburg Thalmann Financial Services boosted their target price on shares of SITO Mobile from $7.20 to $7.80 and gave the company a “buy” rating in a research note on Thursday, May 4th. Zacks Investment Research raised shares of SITO Mobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Craig Hallum downgraded shares of SITO Mobile from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. SITO Mobile presently has an average rating of “Hold” and a consensus price target of $5.34.
Shares of SITO Mobile (NASDAQ SITO) opened at 4.56 on Tuesday. SITO Mobile has a 52 week low of $1.71 and a 52 week high of $6.48. The firm’s market cap is $94.31 million. The company’s 50-day moving average is $4.68 and its 200-day moving average is $3.31.
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In other news, Director Itzhak Fisher purchased 100,000 shares of SITO Mobile stock in a transaction dated Thursday, June 15th. The stock was bought at an average price of $3.47 per share, with a total value of $347,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.50% of the company’s stock.
An institutional investor recently raised its position in SITO Mobile stock. Regentatlantic Capital LLC boosted 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 Securities and Exchange Commission. The firm 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 reporting period. Hedge funds and other institutional investors own 13.39% of the company’s stock.
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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