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

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

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Bytes Technology Group to a “buy” rating and boosted their target price for the company from GBX 410 to GBX 500 in a research note on Wednesday, August 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 450 price target on shares of Bytes Technology Group in a report on Wednesday. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of GBX 443.75.

Bytes Technology Group Trading Up 0.1%

LON BYIT traded up GBX 0.60 during trading hours on Thursday, reaching GBX 443.80. The company had a trading volume of 788,659 shares, compared to its average volume of 2,617,347. The stock has a market capitalization of £1.02 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 2.94. Bytes Technology Group has a 1-year low of GBX 232.92 and a 1-year high of GBX 494.20. The stock has a 50-day moving average of GBX 426.17 and a 200 day moving average of GBX 381.21.

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