Berenberg Bank Reiterates Hold Rating for Bytes Technology Group (LON:BYIT)

Bytes Technology Group (LON:BYIT)‘s stock had its “hold” rating reissued by equities research analysts at Berenberg Bank in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They presently have a GBX 390 price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 6.56% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Jefferies Financial Group cut their target price on shares of Bytes Technology Group from GBX 447 to GBX 380 and set a “buy” rating for the company in a research report on Wednesday. Shore Capital reiterated a “hold” rating and issued a GBX 410 target price on shares of Bytes Technology Group in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bytes Technology Group from GBX 575 to GBX 470 and set a “hold” rating for the company in a research report on Wednesday, July 2nd. Finally, Peel Hunt reiterated a “buy” rating and issued a GBX 638 target price on shares of Bytes Technology Group in a research report on Thursday, September 18th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bytes Technology Group has a consensus rating of “Hold” and a consensus price target of GBX 457.60.

Bytes Technology Group Trading Down 2.1%

Bytes Technology Group stock opened at GBX 366 on Tuesday. The stock has a market cap of £877.87 million, a P/E ratio of 1,667.43, a PEG ratio of 2.27 and a beta of 0.65. Bytes Technology Group has a fifty-two week low of GBX 317.60 and a fifty-two week high of GBX 563. The firm’s fifty day moving average price is GBX 397.05 and its 200-day moving average price is GBX 439.74. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09.

Bytes Technology Group (LON:BYIT) last released its quarterly earnings results on Tuesday, October 14th. The company reported GBX 12.03 earnings per share for the quarter. Bytes Technology Group had a net margin of 25.47% and a return on equity of 66.59%. Equities research analysts forecast that Bytes Technology Group will post 11.3463262 earnings per share for the current fiscal year.

Insider Buying and Selling at Bytes Technology Group

In other Bytes Technology Group news, insider Anna Vikstrom Persson purchased 13,000 shares of the business’s stock in a transaction on Monday, August 18th. The stock was acquired at an average cost of GBX 386 per share, for a total transaction of £50,180. Also, insider Sam Mudd purchased 25,425 shares of the business’s stock in a transaction on Monday, August 18th. The shares were acquired at an average price of GBX 391 per share, with a total value of £99,411.75. In the last ninety days, insiders have acquired 61,347 shares of company stock valued at $23,941,921. Corporate insiders own 3.18% of the company’s stock.

About Bytes Technology Group

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.