SITO Mobile, Ltd. (SITO) Earns “Buy” Rating from Ladenburg Thalmann Financial Services
SITO Mobile, Ltd. (NASDAQ:SITO)‘s stock had its “buy” rating reaffirmed by research analysts at Ladenburg Thalmann Financial Services in a research note issued on Wednesday. They presently have a $7.80 price target on the Wireless communications provider’s stock. Ladenburg Thalmann Financial Services’ price objective would indicate a potential upside of 89.32% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on the stock. Maxim Group set a $4.00 price objective on shares of SITO Mobile and gave the stock a “buy” rating in a report on Tuesday. ValuEngine cut shares of SITO Mobile from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research cut shares of SITO Mobile from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Craig Hallum cut shares of SITO Mobile from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $5.34.
SITO Mobile (SITO) opened at 4.10 on Wednesday. The firm’s market cap is $84.79 million. The firm’s 50-day moving average price is $4.69 and its 200-day moving average price is $3.32. SITO Mobile has a 1-year low of $1.71 and a 1-year high of $6.48.
SITO Mobile (NASDAQ:SITO) last announced its quarterly earnings data on Monday, August 14th. The Wireless communications provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.04. The business had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $10.75 million. SITO Mobile had a negative return on equity of 22.75% and a negative net margin of 20.97%. Equities research analysts anticipate that SITO Mobile will post ($0.11) earnings per share for the current fiscal year.
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In other news, Director Itzhak Fisher purchased 100,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were purchased at an average price of $3.47 per share, for a total transaction of $347,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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 position in shares of SITO Mobile, Ltd. (NASDAQ:SITO) by 9.5% during the second quarter, according to its most recent 13F filing with the SEC. 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 approximately 0.43% of SITO Mobile worth $327,000 as of its most recent SEC filing. 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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