Bytes Technology Group (LON:BYIT) Issues Earnings Results

Bytes Technology Group (LON:BYIT) issued its earnings results on Tuesday. The company reported GBX 12.76 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Bytes Technology Group had a net margin of 21.65% and a return on equity of 69.17%.

Bytes Technology Group Price Performance

BYIT stock traded up GBX 0.60 during trading hours on Friday, hitting GBX 443.80. 788,659 shares of the stock traded hands, compared to its average volume of 2,617,347. Bytes Technology Group has a one year low of GBX 232.92 and a one year high of GBX 494.20. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 2.94. The stock has a 50-day simple moving average of GBX 426.69 and a 200 day simple moving average of GBX 381.64. The company has a market cap of £1.02 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.27 and a beta of 0.72.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BYIT shares. Jefferies Financial Group reiterated a “hold” rating and set a GBX 450 price target on shares of Bytes Technology Group in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Bytes Technology Group to a “buy” rating and boosted their price objective for the company from GBX 410 to GBX 500 in a research note on Wednesday, August 26th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 520 price objective on shares of Bytes Technology Group in a research report on Thursday. 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.com, Bytes Technology Group currently has an average rating of “Hold” and a consensus target price of GBX 443.75.

Bytes Technology Group Company Profile

BTG is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. With a team of more than 1,200 talented people, it serves around 6,000 customers in the corporate and public sectors, building lasting, trust-based relationships to help organisations get the most from the latest transformative technologies shaping our world.

As a value-added reseller, BTG works hand in hand with more than 100 of the world’s biggest vendors who make or distribute the software, hardware and other IT products that it provides to its customers.