Brokerages Set Bytes Technology Group plc (LON:BYIT) Target Price at £620.17

Shares of Bytes Technology Group plc (LON:BYIT) have been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is £620.17.

BYIT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 390 price objective on shares of Bytes Technology Group in a research report on Wednesday, May 13th. Berenberg Bank cut their target price on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating for the company in a research note on Wednesday, May 13th. UBS Group reaffirmed a “neutral” rating and set a GBX 305 target price on shares of Bytes Technology Group in a report on Monday, May 11th. Finally, Jefferies Financial Group upped their price target on shares of Bytes Technology Group from £3,200 to £3,700 and gave the company a “hold” rating in a research note on Thursday, June 25th.

Insider Buying and Selling

In other news, insider Sam Mudd bought 25,000 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were bought at an average price of GBX 413 per share, with a total value of £103,250. Also, insider Gavin Rochussen bought 100,000 shares of the stock in a transaction dated Monday, July 13th. The shares were purchased at an average price of GBX 416 per share, for a total transaction of £416,000. Insiders own 3.28% of the company’s stock.

Bytes Technology Group Stock Performance

Shares of LON BYIT opened at GBX 404 on Friday. 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 431.60. The stock has a 50 day moving average of GBX 383.03 and a 200-day moving average of GBX 336.44. The company has a market capitalization of £941.91 million, a P/E ratio of 19.48, a P/E/G ratio of 2.27 and a beta of 0.71.

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

About Bytes Technology Group

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.