Sito Mobile (NASDAQ:SITO) was downgraded by research analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a report released on Thursday, The Fly reports.
Several other equities analysts have also commented on SITO. Craig Hallum set a $3.00 target price on Sito Mobile and gave the company a “buy” rating in a report on Tuesday, April 2nd. Zacks Investment Research raised Sito Mobile from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Finally, ValuEngine lowered Sito Mobile from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $6.00.
Sito Mobile stock opened at $1.88 on Thursday. Sito Mobile has a twelve month low of $0.74 and a twelve month high of $4.17. The firm has a market cap of $48.00 million, a PE ratio of -2.76 and a beta of 0.71.
Sito Mobile (NASDAQ:SITO) last posted its earnings results on Wednesday, May 15th. The Wireless communications provider reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.08). Sito Mobile had a negative net margin of 42.94% and a negative return on equity of 108.14%. As a group, research analysts forecast that Sito Mobile will post 0.04 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Wedbush Securities Inc. increased its holdings in Sito Mobile by 36.7% in the fourth quarter. Wedbush Securities Inc. now owns 182,805 shares of the Wireless communications provider’s stock valued at $165,000 after buying an additional 49,035 shares during the last quarter. Northern Trust Corp boosted its stake in Sito Mobile by 25.0% in the first quarter. Northern Trust Corp now owns 34,775 shares of the Wireless communications provider’s stock valued at $63,000 after acquiring an additional 6,956 shares in the last quarter. BlackRock Inc. boosted its stake in Sito Mobile by 12.4% in the first quarter. BlackRock Inc. now owns 78,854 shares of the Wireless communications provider’s stock valued at $144,000 after acquiring an additional 8,707 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Sito Mobile by 265.0% in the fourth quarter. Jane Street Group LLC now owns 73,673 shares of the Wireless communications provider’s stock valued at $66,000 after acquiring an additional 53,488 shares in the last quarter. 12.46% of the stock is currently owned by hedge funds and other institutional investors.
About Sito Mobile
SITO Mobile, Ltd. provides advertisement delivery, measurement and attribution, and consumer insights using its proprietary location-based marketing intelligence platform in the United States and Canada. It offers Ad Placement, which delivers advertisements on behalf of its customers to audiences of existing and prospective consumers in a privacy compliant manner; and advertisements across television, desktop, social media, and digital out of home platforms.
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