Bytes Technology Group (LON:BYIT) Receives Buy Rating from Shore Capital

Shore Capital restated their buy rating on shares of Bytes Technology Group (LON:BYIT) in a report released on Wednesday morning, MarketBeat.com reports.

Separately, Berenberg Bank increased their price objective on shares of Bytes Technology Group from GBX 640 ($8.51) to GBX 660 ($8.77) and gave the stock a “buy” rating in a research note on Tuesday, March 18th.

Bytes Technology Group Price Performance

Shares of LON:BYIT opened at GBX 543.50 ($7.23) on Wednesday. Bytes Technology Group has a twelve month low of GBX 400 ($5.32) and a twelve month high of GBX 610 ($8.11). The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The company has a market cap of £1.32 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company’s 50 day moving average is GBX 473.52 and its 200 day moving average is GBX 455.82.

About Bytes Technology Group

With a 40-year track record, Bytes Technology Group is one of the UK’s leading providers of software, security and cloud services. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware and cloud services.

Our strong relationships with many of the world’s largest software companies enable our specialist staff to deliver the latest technology to a diverse and embedded customer base.