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

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

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

Bytes Technology Group Stock Performance

Shares of LON:BYIT traded up GBX 0.60 during trading on Thursday, reaching GBX 443.80. 788,659 shares of the company’s stock traded hands, 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 50 day moving average of GBX 426.69 and a 200-day moving average of GBX 381.64. 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 has a 12 month low of GBX 232.92 and a 12 month high of GBX 494.20.

Bytes Technology Group (LON:BYIT) last announced 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 net margin of 21.65% and a return on equity of 69.17%. On average, equities analysts expect that Bytes Technology Group will post 11.35 EPS for the current 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.