Brokerages forecast that Sito Mobile Ltd (NASDAQ:SITO) will report sales of $12.40 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sito Mobile’s earnings. The lowest sales estimate is $12.30 million and the highest is $12.50 million. Sito Mobile reported sales of $7.46 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 66.2%. The firm is expected to issue 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 financial year, analysts expect that the business will report sales of $52.50 million per share, with estimates ranging from $51.20 million to $53.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Sito Mobile.

Sito Mobile (NASDAQ:SITO) last posted its quarterly earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.06). The firm 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%. The company’s revenue was up 29.7% on a year-over-year basis.

Several analysts have weighed in on the company. Zacks Investment Research upgraded Sito Mobile from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Maxim Group set a $10.00 price target on Sito Mobile and gave the company a “buy” rating in a research note on Wednesday, November 15th. Ladenburg Thalmann Financial Services downgraded Sito Mobile from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research note on Friday, November 17th. Lake Street Capital assumed coverage on Sito Mobile in a research note on Wednesday, October 25th. They set a “buy” rating and a $10.00 price target on the stock. Finally, Cowen reiterated an “outperform” rating on shares of Sito Mobile in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Sito Mobile currently has an average rating of “Buy” and an average target price of $9.00.

In related news, CEO Thomas Pallack bought 31,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were purchased at an average price of $6.83 per share, for a total transaction of $211,730.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.50% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of SITO. Private Advisor Group LLC purchased a new stake in shares of Sito Mobile in the third quarter worth about $204,000. National Asset Management Inc. boosted its stake in shares of 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 worth $1,855,000 after buying an additional 365,000 shares during the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its stake in shares of 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 worth $6,305,000 after buying an additional 85,300 shares during the last quarter. Hedge funds and other institutional investors own 12.48% of the company’s stock.

Sito Mobile (SITO) traded down $0.06 during trading on Friday, reaching $6.91. The company’s stock had a trading volume of 107,500 shares, compared to its average volume of 92,558. The stock has a market cap of $152.21, a P/E ratio of -13.55 and a beta of -1.21. Sito Mobile has a twelve month low of $1.71 and a twelve month high of $8.60.

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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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