SITO Mobile, Ltd. (NASDAQ:SITO) had its target price raised by stock analysts at from $8.00 to $10.00 in a research note issued on Wednesday. The firm presently has a “buy” rating on the Wireless communications provider’s stock. ‘s price target would indicate a potential upside of 23.92% from the stock’s current price.

A number of other research firms also recently weighed in on SITO. Craig Hallum raised shares of SITO Mobile from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, October 30th. Maxim Group set a $10.00 target price on shares of SITO Mobile and gave the company a “buy” rating in a research report on Wednesday. Cowen and Company reissued an “outperform” rating on shares of SITO Mobile in a research report on Wednesday. Zacks Investment Research raised shares of SITO Mobile from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Lake Street Capital began coverage on shares of SITO Mobile in a research report on Wednesday, October 25th. They set a “buy” rating and a $10.00 target price for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $8.83.

SITO Mobile (NASDAQ:SITO) traded down $0.05 during trading hours on Wednesday, reaching $8.07. 314,256 shares of the company’s stock were exchanged, compared to its average volume of 219,363. SITO Mobile has a twelve month low of $1.71 and a twelve month high of $8.60.

SITO Mobile (NASDAQ:SITO) last released its earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $11.10 million for the quarter, compared to analyst estimates of $11.34 million. SITO Mobile had a negative net margin of 29.34% and a negative return on equity of 47.82%. SITO Mobile’s revenue was up 29.7% on a year-over-year basis. equities research analysts forecast that SITO Mobile will post -0.38 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another site, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/11/17/increases-sito-mobile-ltd-sito-price-target-to-10-00.html.

In related news, Director Chester Petrow acquired 68,800 shares of SITO Mobile stock in a transaction dated Thursday, August 24th. The stock was bought at an average price of $3.98 per share, with a total value of $273,824.00. Following the transaction, the director now directly owns 286,968 shares in the company, valued at approximately $1,142,132.64. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Regentatlantic Capital LLC grew its position in shares of SITO Mobile by 9.5% during the 2nd quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock worth $327,000 after buying an additional 7,673 shares during the period. Private Advisor Group LLC acquired a new stake in shares of SITO Mobile during the 3rd quarter worth approximately $204,000. Cannell Peter B & Co. Inc. grew its position in shares of SITO Mobile by 10.7% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock worth $6,305,000 after buying an additional 85,300 shares during the period. Finally, National Asset Management Inc. grew its position in shares of SITO Mobile by 36.4% during the 3rd quarter. National Asset Management Inc. now owns 682,000 shares of the Wireless communications provider’s stock worth $4,870,000 after buying an additional 182,000 shares during the period. 13.65% of the stock is owned by institutional investors.

SITO Mobile Company Profile

SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.

Analyst Recommendations for SITO Mobile (NASDAQ:SITO)

Receive News & Stock Ratings for SITO Mobile Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITO Mobile Ltd. and related stocks with our FREE daily email newsletter.