Berenberg Bank Reaffirms Buy Rating for Bytes Technology Group (LON:BYIT)

Bytes Technology Group (LON:BYIT – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at Berenberg Bank in a report issued on Thursday, Digital Look reports. They presently have a GBX 520 price target on the stock. Berenberg Bank’s price objective points to a potential upside of 17.91% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Bytes Technology Group to a “buy” rating and increased their price objective for the company from GBX 410 to GBX 500 in a report on Wednesday, August 26th. Jefferies Financial Group restated a “hold” rating and set a GBX 450 price target on shares of Bytes Technology Group in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of GBX 443.75.

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Bytes Technology Group Stock Performance

LON BYIT traded up GBX 13 during trading hours on Thursday, reaching GBX 441. The stock had a trading volume of 539,810 shares, compared to its average volume of 2,623,517. Bytes Technology Group has a 52-week low of GBX 232.92 and a 52-week high of GBX 494.20. The stock has a fifty day moving average of GBX 425.71 and a 200 day moving average of GBX 379.94. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.98 and a current ratio of 1.03. The stock has a market cap of £1.01 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72.

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

About Bytes Technology Group

(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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