Cowen and Company started coverage on shares of SITO Mobile Ltd. (NASDAQ:SITO) in a research report report published on Monday. The brokerage issued an outperform rating and a $6.00 price objective on the stock.

SITO has been the topic of a number of other reports. Aegis began coverage on shares of SITO Mobile in a research note on Monday, September 12th. They issued a buy rating and a $6.50 target price on the stock. Zacks Investment Research upgraded shares of SITO Mobile from a hold rating to a buy rating and set a $5.75 target price on the stock in a research note on Wednesday, September 7th. Five equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average price target of $6.55.

SITO Mobile (NASDAQ:SITO) traded up 0.2806% during midday trading on Monday, reaching $3.6101. 46,822 shares of the company’s stock were exchanged. SITO Mobile has a 12-month low of $1.55 and a 12-month high of $6.08. The stock’s market capitalization is $62.73 million. The stock’s 50-day moving average is $4.88 and its 200-day moving average is $4.20.

SITO Mobile (NASDAQ:SITO) last issued its earnings results on Monday, November 14th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $10.30 million for the quarter, compared to the consensus estimate of $9.94 million. SITO Mobile had a negative net margin of 0.98% and a negative return on equity of 3.92%. On average, equities analysts forecast that SITO Mobile will post $0.04 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Akanthos Capital Management LLC boosted its stake in SITO Mobile by 171.8% in the third quarter. Akanthos Capital Management LLC now owns 316,397 shares of the company’s stock worth $1,392,000 after buying an additional 200,000 shares during the last quarter. Formula Growth Ltd. purchased a new stake in SITO Mobile during the third quarter worth approximately $821,000. Symmetry Peak Management LLC purchased a new stake in SITO Mobile during the third quarter worth approximately $451,000. Cannell Peter B & Co. Inc. boosted its stake in SITO Mobile by 20.2% in the second quarter. Cannell Peter B & Co. Inc. now owns 541,695 shares of the company’s stock worth $1,961,000 after buying an additional 91,000 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in SITO Mobile during the second quarter worth approximately $235,000. 16.46% of the stock is owned by institutional investors.

About SITO Mobile

SITO Mobile Ltd., formerly Single Touch Systems Inc, is a provider of mobile location-based advertising platform serving businesses, advertisers and brands. The Company provides solutions through its platform, which allows marketers to create content targeted to audiences, based on location, interests, behaviors and loyalty.

5 Day Chart for NASDAQ:SITO

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