Bytes Technology Group (LON:BYIT) Stock Keeps “Buy” Rating at Berenberg Bank

Bytes Technology Group (LON:BYIT – Get Free Report)‘s stock had its “buy” rating reiterated by equities researchers at Berenberg Bank in a research report issued on Thursday, Digital Look reports. They currently have a GBX 520 price objective on the stock. Berenberg Bank’s target price would indicate a potential upside of 17.33% from the company’s current price.

A number of other brokerages have also issued reports on BYIT. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 450 target price on shares of Bytes Technology Group in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a “buy” rating and raised their price objective for the company from GBX 410 to GBX 500 in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Bytes Technology Group presently has a consensus rating of “Hold” and a consensus target price of GBX 443.75.

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Bytes Technology Group Stock Up 3.6%

Shares of BYIT stock traded up GBX 15.20 during trading hours on Thursday, reaching GBX 443.20. The company had a trading volume of 38,578,273 shares, compared to its average volume of 2,814,665. The company has a market capitalization of £1.02 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.98 and a current ratio of 1.03. Bytes Technology Group has a twelve month low of GBX 232.92 and a twelve month high of GBX 494.20. The stock’s fifty day simple moving average is GBX 425.71 and its 200 day simple moving average is GBX 379.94.

Bytes Technology Group (LON:BYIT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 13th. The company reported GBX 12.76 earnings per share (EPS) for the quarter. Bytes Technology Group had a net margin of 21.65% and a return on equity of 69.17%. As a group, sell-side analysts expect that Bytes Technology Group will post 11.35 earnings per share for the current fiscal year.

Bytes Technology Group Company Profile

(Get Free Report)

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.

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