Bytes Technology Group (LON:BYIT) Earns Buy Rating from Berenberg Bank

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating reiterated by equities research analysts at Berenberg Bank in a report issued on Thursday, Digital Look reports. They presently have a GBX 520 price target on the stock. Berenberg Bank’s price target would indicate a potential upside of 17.17% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 450 price objective on shares of Bytes Technology Group in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a “buy” rating and upped their price target for the stock from GBX 410 to GBX 500 in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of GBX 443.75.

Bytes Technology Group Price Performance

Shares of BYIT traded up GBX 0.60 during trading hours on Thursday, hitting GBX 443.80. 788,659 shares of the company were exchanged, compared to its average volume of 2,617,347. The company has a debt-to-equity ratio of 2.94, a current ratio of 1.03 and a quick ratio of 0.98. The company has a market capitalization of £1.02 billion, a PE ratio of 21.40, a PEG ratio of 2.27 and a beta of 0.72. The firm has a fifty day simple moving average of GBX 426.69 and a 200-day simple moving average of GBX 381.64. Bytes Technology Group has a one year low of GBX 232.92 and a one year high of GBX 494.20.

Bytes Technology Group (LON:BYIT) last released its earnings results on Tuesday, October 13th. The company reported GBX 12.76 earnings per share (EPS) for the quarter. Bytes Technology Group had a return on equity of 69.17% and a net margin of 21.65%. As a group, sell-side analysts predict 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.