Bytes Technology Group (LON:BYIT) Trading Up 0.9% - Still a Buy?

Bytes Technology Group plc (LON:BYIT - Get Free Report)'s share price shot up 0.9% on Tuesday . The stock traded as high as GBX 524.50 ($7.10) and last traded at GBX 521.20 ($7.05). 655,894 shares changed hands during trading, a decline of 42% from the average session volume of 1,128,158 shares. The stock had previously closed at GBX 516.50 ($6.99).

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BYIT. Berenberg Bank lifted their price target on shares of Bytes Technology Group from GBX 640 ($8.66) to GBX 660 ($8.93) and gave the company a "buy" rating in a research note on Tuesday, March 18th. Shore Capital reissued a "buy" rating on shares of Bytes Technology Group in a report on Wednesday, May 7th.

Bytes Technology Group Trading Up 0.8%

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09. The company has a 50 day simple moving average of GBX 503.06 and a two-hundred day simple moving average of GBX 464.06. The firm has a market cap of £1.29 billion, a PE ratio of 24.77, a P/E/G ratio of 2.27 and a beta of 0.65.

Bytes Technology Group (LON:BYIT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported GBX 25.07 ($0.34) earnings per share for the quarter. Bytes Technology Group had a return on equity of 66.59% and a net margin of 25.47%. Analysts expect that Bytes Technology Group plc will post 11.3463262 EPS for the current fiscal year.

About Bytes Technology Group

With a 40-year track record, Bytes Technology Group is one of the UK's leading providers of software, security and cloud services. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware 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.