Bytes Technology Group plc (LON:BYIT) Given Average Rating of "Hold" by Brokerages

Key Points

• Bytes Technology Group has an average analyst rating of “Hold” from six research firms, with five hold ratings and one buy rating. The average 1-year price target among updated brokers is GBX 422.17.
• Recent analyst notes included UBS reiterating a neutral rating with a GBX 305 target and Jefferies reaffirming a hold rating with a GBX 320 target. Shore Capital also restated a hold view.
• The stock was up 0.2% to GBX 314, though trading volume was well below average. Bytes Technology Group’s shares remain far below their 12-month high of GBX 563.

Shares of Bytes Technology Group plc (LON:BYIT - Get Free Report) have been given an average recommendation of "Hold" by the six research firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is GBX 422.17.

Several analysts have issued reports on the company. UBS Group restated a "neutral" rating and set a GBX 305 price objective on shares of Bytes Technology Group in a research note on Monday. Jefferies Financial Group restated a "hold" rating and set a GBX 320 price objective on shares of Bytes Technology Group in a research note on Friday, April 10th. Finally, Shore Capital Group restated a "hold" rating on shares of Bytes Technology Group in a research note on Wednesday, March 25th.

Bytes Technology Group Stock Up 0.2%

LON BYIT traded up GBX 0.60 on Monday, hitting GBX 314. 537,655 shares of the stock traded hands, compared to its average volume of 3,233,153. The stock has a 50-day moving average of GBX 297.66 and a 200 day moving average of GBX 327.84. Bytes Technology Group has a twelve month low of GBX 232.92 and a twelve month high of GBX 563. The company has a market capitalization of £742.20 million, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 3.98.

Bytes Technology Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.