Jefferies Financial Group Lowers Bytes Technology Group (LON:BYIT) Price Target to GBX 380

Key Points

• Jefferies Financial Group has lowered its price target for Bytes Technology Group from GBX 447 to GBX 380, while still maintaining a "buy" rating.
• The stock trades at a current price of GBX 366, with a consensus target of GBX 457.60 among analysts, indicating potential upside.
• Recent insider transactions included the purchase of shares by Patrick De Smedt and Anna Vikstrom Persson, totaling over £100,000 combined.

Bytes Technology Group (LON:BYIT - Get Free Report) had its target price cut by research analysts at Jefferies Financial Group from GBX 447 to GBX 380 in a research note issued to investors on Wednesday,Digital Look reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's price objective suggests a potential upside of 3.83% from the company's current price.

Other analysts have also issued research reports about the stock. Shore Capital reiterated a "hold" rating and issued a GBX 410 target price on shares of Bytes Technology Group in a research report on Tuesday. Peel Hunt reiterated a "buy" rating and issued a GBX 638 target price on shares of Bytes Technology Group in a research report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bytes Technology Group from GBX 575 to GBX 470 and set a "hold" rating on the stock in a research report on Wednesday, July 2nd. Finally, Berenberg Bank lowered shares of Bytes Technology Group to a "hold" rating and dropped their target price for the company from GBX 660 to GBX 390 in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of GBX 457.60.

Bytes Technology Group Stock Performance

Bytes Technology Group stock traded down GBX 8 during mid-day trading on Wednesday, reaching GBX 366. 1,406,496 shares of the company traded hands, compared to its average volume of 1,361,964. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98. Bytes Technology Group has a fifty-two week low of GBX 317.60 and a fifty-two week high of GBX 563. The company has a market capitalization of £877.87 million, a price-to-earnings ratio of 1,667.43, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The firm's fifty day moving average is GBX 396.99 and its two-hundred day moving average is GBX 440.25.

Bytes Technology Group (LON:BYIT - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The company reported GBX 12.03 earnings per share for the quarter. Bytes Technology Group had a net margin of 25.47% and a return on equity of 66.59%. On average, equities research analysts expect that Bytes Technology Group will post 11.3463262 earnings per share for the current fiscal year.

Insider Buying and Selling at Bytes Technology Group

In other Bytes Technology Group news, insider Patrick De Smedt purchased 12,800 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of GBX 391 per share, with a total value of £50,048. Also, insider Anna Vikstrom Persson bought 13,000 shares of Bytes Technology Group stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of GBX 386 per share, for a total transaction of £50,180. In the last three months, insiders bought 61,347 shares of company stock valued at $23,941,921. Corporate insiders own 3.18% of the company's stock.

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.

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