Bytes Technology Group (LON:BYIT) Given Hold Rating at Jefferies Financial Group

Key Points

• Jefferies reiterated a “Hold” rating on Bytes Technology Group with a GBX 450 price target, implying 2.46% upside from the prior close.
• Deutsche Bank upgraded the stock to “Buy” and raised its target to GBX 500. Overall, analyst consensus remains “Hold,” with one Buy and four Hold ratings and an average target of GBX 403.75.
• Shares traded at GBX 439.20, while the company reported quarterly EPS of GBX 12.76, a 64.69% return on equity and a 23.25% net margin.

Bytes Technology Group (LON:BYIT - Get Free Report)'s stock had its "hold" rating reiterated by equities researchers at Jefferies Financial Group in a research note issued on Wednesday, Digital Look reports. They presently have a GBX 450 price objective on the stock. Jefferies Financial Group's target price indicates a potential upside of 2.46% from the stock's previous close.

Separately, Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a "buy" rating and upped their target price for the company from GBX 410 to GBX 500 in a research note on Wednesday, August 26th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Bytes Technology Group presently has an average rating of "Hold" and an average price target of GBX 403.75.

Bytes Technology Group Stock Performance

Shares of LON BYIT traded up GBX 0.20 during trading hours on Wednesday, hitting GBX 439.20. 3,048,336 shares of the company's stock were exchanged, compared to its average volume of 2,645,837. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.05 and a quick ratio of 0.98. The company's 50-day moving average price is GBX 425.50 and its 200-day moving average price is GBX 378.77. The stock has a market capitalization of £1.01 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.27 and a beta of 0.72. Bytes Technology Group has a 1-year low of GBX 232.92 and a 1-year high of GBX 494.20.

Bytes Technology Group (LON:BYIT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 13th. The company reported GBX 12.76 EPS for the quarter. Bytes Technology Group had a return on equity of 64.69% and a net margin of 23.25%. On average, sell-side analysts expect that Bytes Technology Group will post 11.35 earnings per share for the current fiscal year.

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.