Bytes Technology Group (LON:BYIT – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported GBX 12.76 EPS for the quarter, Digital Look Earnings reports. Bytes Technology Group had a return on equity of 69.17% and a net margin of 21.65%.
Bytes Technology Group Trading Up 3.6%
BYIT stock traded up GBX 15.20 during midday trading on Thursday, reaching GBX 443.20. The company’s stock had a trading volume of 38,578,273 shares, compared to its average volume of 2,814,665. Bytes Technology Group has a 52 week low of GBX 232.92 and a 52 week high of GBX 494.20. The stock has a market cap of £1.02 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 1.03 and a debt-to-equity ratio of 2.94. The business’s 50-day simple moving average is GBX 425.71 and its 200-day simple moving average is GBX 379.94.
Analysts Set New Price Targets
BYIT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised Bytes Technology Group to a “buy” rating and upped their price target for the company from GBX 410 to GBX 500 in a research note on Wednesday, August 26th. Berenberg Bank reiterated a “buy” rating and issued a GBX 520 price target on shares of Bytes Technology Group in a report on Thursday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 450 price objective on shares of Bytes Technology Group in a research report on Wednesday. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of GBX 443.75.
Bytes Technology Group Company Profile
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.
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