Jefferies Financial Group Reaffirms Hold Rating for Bytes Technology Group (LON:BYIT)

Bytes Technology Group (LON:BYIT)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Financial Group in a note issued to investors on Wednesday, October 14th, Digital Look reports. They currently have a GBX 450 price objective on the stock. Jefferies Financial Group’s price target points to a potential downside of 0.79% from the stock’s current price.

Separately, Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a “buy” rating and lifted their target price for the company from GBX 410 to GBX 500 in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Bytes Technology Group presently has a consensus rating of “Hold” and a consensus target price of GBX 443.75.

Bytes Technology Group Price Performance

Shares of BYIT stock traded down GBX 2.40 during trading hours on Wednesday, reaching GBX 453.60. The company’s stock had a trading volume of 883,616 shares, compared to its average volume of 2,590,292. The firm’s 50 day simple moving average is GBX 428.15 and its 200-day simple moving average is GBX 384.90. The company has a market capitalization of £1.04 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.27 and a beta of 0.72. Bytes Technology Group has a fifty-two week low of GBX 232.92 and a fifty-two week high of GBX 494.20. The company has a quick ratio of 0.98, a current ratio of 1.03 and a debt-to-equity ratio of 2.94.

Bytes Technology Group (LON:BYIT) last posted its quarterly earnings results on Tuesday, October 13th. The company reported GBX 12.76 EPS for the quarter. Bytes Technology Group had a return on equity of 69.17% and a net margin of 21.65%. Sell-side analysts forecast that Bytes Technology Group will post 11.35 earnings per share for the current year.

About Bytes Technology Group

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.