Bytes Technology Group (LON:BYIT) Earns Hold Rating from Jefferies Financial Group

Key Points

• Jefferies reiterated a "hold" rating on Bytes Technology Group with a target price of GBX 320, implying about a 12.44% upside from the current share price.
• The stock's consensus is a Hold (one Buy, four Hold) with a consensus price target of GBX 445.60, per MarketBeat data.
• Bytes shares opened at GBX 284.60, with a market cap of £672.71m, a P/E of 13.31, a 1-year range of GBX 232.92–563 and a relatively high debt-to-equity ratio of 3.98.

Bytes Technology Group (LON:BYIT - Get Free Report)'s stock had its "hold" rating restated by equities researchers at Jefferies Financial Group in a report issued on Friday,London Stock Exchange reports. They presently have a GBX 320 target price on the stock. Jefferies Financial Group's price objective would suggest a potential upside of 12.44% from the company's current price.

Separately, Shore Capital Group reiterated a "hold" rating on shares of Bytes Technology Group in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of GBX 445.60.

Bytes Technology Group Stock Performance

BYIT opened at GBX 284.60 on Friday. The company has a market capitalization of £672.71 million, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 2.27 and a beta of 0.69. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.05 and a quick ratio of 0.98. Bytes Technology Group has a 1-year low of GBX 232.92 and a 1-year high of GBX 563. The business has a 50 day moving average price of GBX 296.87 and a two-hundred day moving average price of GBX 339.47.

About Bytes Technology Group

With a 40-year track record, Bytes Technology Group is one of the UK and Ireland's leading software, security, AI and cloud services specialists. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware, and AI and cloud services. Our strong relationships with many of the world's largest software companies enable our specialist staff to deliver the latest technology to a diverse and embedded customer base. This has resulted in our long track record of strong financial performance.

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