Sito Mobile (NASDAQ:SITO) was upgraded by stock analysts at Ladenburg Thalmann Financial Services from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $10.00 target price on the Wireless communications provider’s stock. Ladenburg Thalmann Financial Services’ price target points to a potential upside of 48.37% from the stock’s current price.

SITO has been the topic of several other reports. Maxim Group set a $10.00 price objective on shares of Sito Mobile and gave the company a “buy” rating in a research report on Wednesday, November 15th. ValuEngine raised shares of Sito Mobile from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Zacks Investment Research raised shares of Sito Mobile from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. raised their price target 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. Finally, Craig Hallum raised shares of Sito Mobile from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $9.00.

Shares of Sito Mobile (SITO) opened at $6.74 on Thursday. Sito Mobile has a 1 year low of $1.71 and a 1 year high of $8.60.

Sito Mobile (NASDAQ:SITO) last announced its quarterly earnings data on Tuesday, November 14th. The Wireless communications provider reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.06). Sito Mobile had a negative net margin of 29.34% and a negative return on equity of 47.82%. The firm had revenue of $11.10 million for the quarter, compared to analysts’ expectations of $11.34 million. Sito Mobile’s revenue for the quarter was up 29.7% on a year-over-year basis. equities analysts expect that Sito Mobile will post -0.44 earnings per share for the current year.

In related news, CEO Thomas Pallack purchased 31,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were purchased at an average price of $6.83 per share, with a total value of $211,730.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new position in shares of Sito Mobile in the third quarter worth approximately $204,000. National Asset Management Inc. boosted its holdings 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 holdings 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. 12.50% of the stock is currently owned by institutional investors.

WARNING: “Sito Mobile (SITO) Rating Increased to Buy at Ladenburg Thalmann Financial Services” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/sito-mobile-sito-rating-increased-to-buy-at-ladenburg-thalmann-financial-services/1767805.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.

Analyst Recommendations for Sito Mobile (NASDAQ:SITO)

Receive News & Ratings for Sito Mobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sito Mobile and related companies with Analyst Ratings Network's FREE daily email newsletter.