Bytes Technology Group (LON:BYIT) Announces Quarterly Earnings Results

Bytes Technology Group (LON:BYIT) issued its earnings results on Tuesday. The company reported GBX 12.76 EPS for the quarter, Digital Look Earnings reports. Bytes Technology Group had a net margin of 21.65% and a return on equity of 69.17%.

Bytes Technology Group Stock Up 1.5%

Shares of LON BYIT opened at GBX 434.60 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 2.94. The company has a market cap of £1.00 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.27 and a beta of 0.72. Bytes Technology Group has a 12 month low of GBX 232.92 and a 12 month high of GBX 494.20. The stock has a 50-day moving average price of GBX 425.71 and a two-hundred day moving average price of GBX 379.94.

Analysts Set New Price Targets

Several research firms recently issued reports on BYIT. Berenberg Bank reiterated a “buy” rating and set a GBX 520 price target on shares of Bytes Technology Group in a research report on Thursday. Jefferies Financial Group restated a “hold” rating and set a GBX 450 target price on shares of Bytes Technology Group in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a “buy” rating and lifted their price target for the company from GBX 410 to GBX 500 in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Bytes Technology Group has a consensus rating of “Hold” and a consensus price target 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.