SITO Mobile, Ltd. (SITO) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research downgraded shares of SITO Mobile, Ltd. (NASDAQ:SITO) from a hold rating to a sell rating in a research note published on Tuesday.
According to Zacks, “SITO Mobile Limited is a technology based mobile solutions provider. The Company provides wireless application development, publishing and distribution. It offers mobile location-based advertising and mobile messaging platforms that enable brands, agencies, and retailers to transform digital marketing by delivering targeted mobile advertising campaigns based on geo-location, in-store traffic, and customer response. SITO Mobile Limited, formerly known as Single Touch Systems, Inc., is based in Jersey City, New Jersey. “
Several other equities analysts have also issued reports on the stock. Ladenburg Thalmann Financial Services lowered shares of SITO Mobile from a buy rating to a neutral rating and set a $9.00 price objective on the stock. in a report on Friday, November 17th. lifted their price objective on shares of SITO Mobile from $8.00 to $10.00 and gave the company a buy rating in a report on Wednesday, November 15th. Cowen Inc reissued an outperform rating on shares of SITO Mobile in a report on Wednesday, November 15th. Maxim Group set a $10.00 price objective on shares of SITO Mobile and gave the company a buy rating in a report on Wednesday, November 15th. Finally, Craig Hallum raised shares of SITO Mobile from a hold rating to a buy rating and set a $10.00 price objective on the stock in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $8.83.
SITO Mobile (SITO) opened at $6.91 on Tuesday. SITO Mobile has a 1-year low of $1.71 and a 1-year high of $8.60.
SITO Mobile (NASDAQ:SITO) last issued its quarterly earnings data on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.06). The business had revenue of $11.10 million for 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 47.82%. SITO Mobile’s revenue for the quarter was up 29.7% compared to the same quarter last year. equities analysts expect that SITO Mobile will post -0.42 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC acquired a new stake in SITO Mobile in the third quarter valued at approximately $204,000. Regentatlantic Capital LLC boosted its stake in SITO Mobile by 9.5% in the second quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock valued at $327,000 after acquiring an additional 7,673 shares in the last quarter. National Asset Management Inc. boosted its stake in SITO Mobile by 270.4% in the second quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock valued at $1,855,000 after acquiring an additional 365,000 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its stake in SITO Mobile by 10.7% in 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 acquiring an additional 85,300 shares in the last quarter. Institutional investors own 15.07% of the company’s stock.
TRADEMARK VIOLATION WARNING: This article was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.watchlistnews.com/sito-mobile-ltd-sito-downgraded-by-zacks-investment-research-to-sell/1725581.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SITO Mobile Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITO Mobile Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.