Bytes Technology Group plc (LON:BYIT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bytes Technology Group plc (LON:BYIT) have earned a consensus rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is £620.17.

Several equities analysts have recently commented on the stock. Berenberg Bank lowered their price target on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating on the stock in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 390 target price on shares of Bytes Technology Group in a research report on Wednesday, May 13th. UBS Group reaffirmed a “neutral” rating and issued a GBX 305 price objective on shares of Bytes Technology Group in a research note on Monday, May 11th. Finally, Jefferies Financial Group upped their price objective on shares of Bytes Technology Group from £3,200 to £3,700 and gave the stock a “hold” rating in a report on Thursday, June 25th.

Insider Transactions at Bytes Technology Group

In related news, insider Sam Mudd acquired 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were acquired at an average cost of GBX 413 per share, with a total value of £103,250. Also, insider Gavin Rochussen bought 100,000 shares of Bytes Technology Group stock in a transaction that occurred on Monday, July 13th. The stock was bought at an average price of GBX 416 per share, with a total value of £416,000. 3.28% of the stock is owned by insiders.

Bytes Technology Group Stock Performance

BYIT stock opened at GBX 416.20 on Friday. The firm has a 50 day simple moving average of GBX 382 and a 200 day simple moving average of GBX 336.31. Bytes Technology Group has a 52 week low of GBX 232.92 and a 52 week high of GBX 431.60. The stock has a market cap of £970.35 million, a P/E ratio of 20.07, a P/E/G ratio of 2.27 and a beta of 0.71. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.98 and a current ratio of 1.05.

Bytes Technology Group (LON:BYIT) last released its quarterly earnings data on Tuesday, May 12th. The company reported GBX 21.40 earnings per share for the quarter. Bytes Technology Group had a net margin of 23.25% and a return on equity of 64.69%. The firm had revenue of £220.56 million for the quarter. Research analysts anticipate that Bytes Technology Group will post 11.3463262 earnings per share for the current fiscal year.

About Bytes Technology Group

BTG is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. With a team of more than 1,200 talented people, it serves around 6,000 customers in the corporate and public sectors, building lasting, trust-based relationships to help organisations get the most from the latest transformative technologies shaping our world.

As a value-added reseller, BTG works hand in hand with more than 100 of the world’s biggest vendors who make or distribute the software, hardware and other IT products that it provides to its customers.