Maxim Group Analysts Give SITO Mobile, Ltd. (SITO) a $10.00 Price Target
Maxim Group set a $10.00 target price on SITO Mobile, Ltd. (NASDAQ:SITO) in a report released on Wednesday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the Wireless communications provider’s stock.
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut SITO Mobile from a hold rating to a sell rating in a research note on Wednesday, July 19th. Craig Hallum upgraded SITO Mobile from a hold rating to a buy rating and set a $10.00 target price for the company in a research note on Monday, October 30th. ValuEngine upgraded SITO Mobile from a sell rating to a hold rating in a research note on Friday, September 15th. Lake Street Capital started coverage on SITO Mobile in a research note on Wednesday, October 25th. They issued a buy rating and a $10.00 target price for the company. Finally, Ladenburg Thalmann Financial Services restated a buy rating and issued a $7.80 target price on shares of SITO Mobile in a research note on Wednesday, August 16th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $8.83.
Shares of SITO Mobile (NASDAQ SITO) traded down $0.05 during mid-day trading on Wednesday, hitting $8.07. The stock had a trading volume of 314,256 shares, compared to its average volume of 219,363. SITO Mobile has a 12-month low of $1.71 and a 12-month high of $8.60.
SITO Mobile (NASDAQ:SITO) last released its earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.06). The firm had revenue of $11.10 million during the quarter, compared to analysts’ expectations of $11.34 million. SITO Mobile had a negative net margin of 29.34% and a negative return on equity of 48.66%. The business’s revenue was up 29.7% on a year-over-year basis. equities research analysts anticipate that SITO Mobile will post -0.38 earnings per share for the current year.
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In related news, Director Chester Petrow acquired 68,800 shares of the stock in a transaction on Thursday, August 24th. The stock was acquired at an average price of $3.98 per share, for a total transaction of $273,824.00. Following the completion of the purchase, the director now owns 286,968 shares of the company’s stock, valued at $1,142,132.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.50% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the business. Regentatlantic Capital LLC raised its stake in SITO Mobile by 9.5% during the second quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock valued at $327,000 after buying an additional 7,673 shares during the last quarter. Private Advisor Group LLC purchased a new position in SITO Mobile during the third quarter valued at $204,000. Cannell Peter B & Co. Inc. raised its stake in SITO Mobile by 10.7% during the third quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock valued at $6,305,000 after buying an additional 85,300 shares during the last quarter. Finally, National Asset Management Inc. raised its stake in SITO Mobile by 36.4% during the third quarter. National Asset Management Inc. now owns 682,000 shares of the Wireless communications provider’s stock valued at $4,870,000 after buying an additional 182,000 shares during the last quarter. Institutional investors and hedge funds own 13.65% of the company’s stock.
About SITO Mobile
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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