Bytes Technology Group (LON:BYIT) Price Target Raised to £3,700 at Jefferies Financial Group

Bytes Technology Group (LON:BYIT – Get Free Report) had its target price increased by research analysts at Jefferies Financial Group from £3,200 to £3,700 in a research note issued to investors on Thursday,London Stock Exchange reports. The firm presently has a “hold” rating on the stock.

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 390 target price on shares of Bytes Technology Group in a report on Wednesday, May 13th. Berenberg Bank lowered their price target on Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating for the company 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, Shore Capital Group reiterated a “hold” rating on shares of Bytes Technology Group in a report on Wednesday, March 25th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of £620.17.

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Bytes Technology Group Price Performance

Shares of BYIT opened at GBX 372.40 on Thursday. Bytes Technology Group has a 1-year low of GBX 232.92 and a 1-year high of GBX 528. The stock has a market cap of £876.36 million, a PE ratio of 17.96, a P/E/G ratio of 2.27 and a beta of 0.72. The firm has a 50-day simple moving average of GBX 342.21 and a two-hundred day simple moving average of GBX 328.20. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.05 and a quick ratio of 0.98.

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