Bytes Technology Group (LON:BYIT) Stock Rating Reaffirmed as “Buy” by Berenberg Bank

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating reiterated by Berenberg Bank in a research report issued to clients and investors on Thursday, Digital Look reports. They presently have a GBX 520 price objective on the stock. Berenberg Bank’s target price suggests a potential upside of 19.43% from the stock’s current price.

A number of other research firms also recently commented on BYIT. Jefferies Financial Group reissued a “hold” rating and issued a GBX 450 price objective on shares of Bytes Technology Group in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised Bytes Technology Group to a “buy” rating and raised their target price for the company from GBX 410 to GBX 500 in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of GBX 443.75.

Bytes Technology Group Price Performance

Shares of LON:BYIT opened at GBX 435.40 on Thursday. Bytes Technology Group has a 12 month low of GBX 232.92 and a 12 month high of GBX 494.20. The stock has a market cap of £1.00 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.27 and a beta of 0.72. The stock’s 50 day moving average price is GBX 425.71 and its 200 day moving average price is GBX 379.94. The company has a debt-to-equity ratio of 2.94, a current ratio of 1.03 and a quick ratio of 0.98.

Bytes Technology Group (LON:BYIT) last issued its quarterly 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%. Equities research analysts anticipate that Bytes Technology Group will post 11.35 earnings per share for the current fiscal year.

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.