Bytes Technology Group plc (LON:BYIT) Receives GBX 403.83 Consensus Price Target from Brokerages

Shares of Bytes Technology Group plc (LON:BYIT – Get Free Report) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is GBX 403.83.

Several research analysts have recently commented on BYIT shares. Shore Capital Group reissued a “hold” rating on shares of Bytes Technology Group in a research report on Wednesday, March 25th. Berenberg Bank cut 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. UBS Group reaffirmed a “neutral” rating and issued a GBX 305 price target on shares of Bytes Technology Group in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 390 price target on shares of Bytes Technology Group in a report on Wednesday, May 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 320 price target on shares of Bytes Technology Group in a report on Tuesday, May 12th.

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Bytes Technology Group Trading Up 0.3%

BYIT opened at GBX 361.20 on Friday. The firm has a market cap of £850.00 million, a price-to-earnings ratio of 17.42, a PEG ratio of 2.27 and a beta of 0.68. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 2.44. Bytes Technology Group has a 12 month low of GBX 232.92 and a 12 month high of GBX 528. The stock has a fifty day moving average price of GBX 329.23 and a 200-day moving average price of GBX 327.17.

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

About Bytes Technology Group

(Get Free Report)

With a 40-year track record, Bytes Technology Group is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware, and AI and cloud services.

Our strong relationships with many of the world’s largest software companies enable our specialist staff to deliver the latest technology to a diverse and embedded customer base. This has resulted in our long track record of strong financial performance.

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