Sito Mobile Ltd (SITO) Expected to Announce Quarterly Sales of $12.40 Million
Wall Street analysts expect that Sito Mobile Ltd (NASDAQ:SITO) will report $12.40 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Sito Mobile’s earnings. The lowest sales estimate is $12.30 million and the highest is $12.50 million. Sito Mobile posted sales of $7.46 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 66.2%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, March 27th.
According to Zacks, analysts expect that Sito Mobile will report full year sales of $12.40 million for the current year, with estimates ranging from $41.00 million to $41.02 million. For the next fiscal year, analysts expect that the company will report sales of $52.50 million per share, with estimates ranging from $51.20 million to $53.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Sito Mobile.
Several analysts have weighed in on the stock. Maxim Group set a $10.00 price target on shares of Sito Mobile and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research downgraded shares of Sito Mobile from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. boosted their price target on shares of Sito Mobile from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Cowen reissued an “outperform” rating on shares of Sito Mobile in a research note on Wednesday, November 15th. Finally, Ladenburg Thalmann Financial Services raised shares of Sito Mobile from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Thursday, December 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Sito Mobile currently has a consensus rating of “Buy” and an average target price of $9.00.
In other Sito Mobile news, CEO Thomas Pallack purchased 5,625 shares of the stock in a transaction on Friday, December 29th. The stock was acquired at an average cost of $6.60 per share, with a total value of $37,125.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Jane Street Group LLC bought a new position in shares of Sito Mobile during the fourth quarter valued at about $113,000. Wells Fargo & Company MN raised its stake in shares of Sito Mobile by 570.3% during the fourth quarter. Wells Fargo & Company MN now owns 17,628 shares of the Wireless communications provider’s stock valued at $119,000 after acquiring an additional 14,998 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Sito Mobile during the fourth quarter valued at about $120,000. Monashee Investment Management LLC bought a new position in shares of Sito Mobile during the fourth quarter valued at about $126,000. Finally, Private Advisor Group LLC bought a new position in shares of Sito Mobile during the third quarter valued at about $204,000. 12.19% of the stock is owned by hedge funds and other institutional investors.
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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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