Bytes Technology Group’s (BYIT) “Buy” Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft restated their buy rating on shares of Bytes Technology Group (LON:BYIT) in a research report released on Wednesday, Marketbeat.com reports. They currently have a GBX 390 price target on the stock.

A number of other equities analysts also recently commented on BYIT. UBS Group reissued a “neutral” rating and set a GBX 305 price objective on shares of Bytes Technology Group in a research report on Monday, May 11th. Berenberg Bank dropped their price target on Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating for the company in a research note on Wednesday. Jefferies Financial Group restated a “hold” rating and issued a GBX 320 price objective on shares of Bytes Technology Group in a report on Tuesday. Finally, Shore Capital Group restated a “hold” rating on shares of Bytes Technology Group in a report on Wednesday, March 25th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bytes Technology Group presently has a consensus rating of “Hold” and a consensus price target of GBX 403.83.

Bytes Technology Group Stock Performance

Shares of LON:BYIT opened at GBX 345.18 on Wednesday. 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 business’s 50 day moving average price is GBX 301.22 and its 200-day moving average price is GBX 326.54. The firm has a market capitalization of £815.90 million, a PE ratio of 16.14, a P/E/G ratio of 2.27 and a beta of 0.68. Bytes Technology Group has a 1 year low of GBX 232.92 and a 1 year high of GBX 549.

Bytes Technology Group (LON:BYIT) last released its earnings results on Tuesday, May 12th. The company reported GBX 21.40 earnings per share for the quarter. The business had revenue of £220.56 million for the quarter. Bytes Technology Group had a net margin of 23.25% and a return on equity of 64.69%. As a group, equities research analysts expect that Bytes Technology Group will post 11.3463262 earnings per share for the current fiscal year.

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.