Bytes Technology Group (LON:BYIT – Get Free Report) posted its earnings results on Tuesday. The company reported GBX 12.76 earnings per share 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 Trading Up 3.0%
Bytes Technology Group stock traded up GBX 13 during midday trading on Thursday, reaching GBX 441. The stock had a trading volume of 539,810 shares, compared to its average volume of 2,623,517. 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 firm has a market cap of £1.01 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72. Bytes Technology Group has a 52-week low of GBX 232.92 and a 52-week high of GBX 494.20. The company has a fifty day moving average of GBX 425.71 and a 200 day moving average of GBX 379.94.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Berenberg Bank reissued a “buy” rating and set a GBX 520 price objective on shares of Bytes Technology Group in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a “buy” rating and lifted their target price for the stock from GBX 410 to GBX 500 in a report on Wednesday, August 26th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 450 price target on shares of Bytes Technology Group in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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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