Analysts Set Bytes Technology Group plc (LON:BYIT) PT at £620.17

Bytes Technology Group plc (LON:BYIT) has been given a consensus recommendation of “Hold” by the six research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is £620.17.

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

Bytes Technology Group Trading Down 0.0%

LON BYIT traded down GBX 0.20 on Tuesday, hitting GBX 403.60. The company’s stock had a trading volume of 207,043 shares, compared to its average volume of 3,300,058. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 2.44. Bytes Technology Group has a 1-year low of GBX 232.92 and a 1-year high of GBX 431.60. The company’s 50-day moving average is GBX 354.59 and its 200 day moving average is GBX 330.67. The firm has a market cap of £949.78 million, a PE ratio of 19.46, a PEG ratio of 2.27 and a beta of 0.71.

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