Bytes Technology Group (LON:BYIT) Price Target Raised to £3,700 at Jefferies Financial Group

Bytes Technology Group (LON:BYIT) had its price target lifted by analysts at Jefferies Financial Group from £3,200 to £3,700 in a research note issued on Thursday,London Stock Exchange reports. The firm currently has a “hold” rating on the stock.

BYIT has been the topic of a number of other research reports. Shore Capital Group reaffirmed a “hold” rating on shares of Bytes Technology Group in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 390 price objective on shares of Bytes Technology Group in a research report on Wednesday, May 13th. Berenberg Bank reduced their target price on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating on the stock in a report on Wednesday, May 13th. Finally, UBS Group reaffirmed a “neutral” rating and issued a GBX 305 target price on shares of Bytes Technology Group in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of £620.17.

Bytes Technology Group Stock Up 0.2%

Shares of LON BYIT opened at GBX 372.40 on Thursday. The stock has a market cap of £876.36 million, a P/E ratio of 17.96, a PEG ratio of 2.27 and a beta of 0.72. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 2.44. Bytes Technology Group has a 12-month low of GBX 232.92 and a 12-month high of GBX 528. The business’s fifty day simple moving average is GBX 342.21 and its 200-day simple moving average is GBX 328.20.

Bytes Technology Group (LON:BYIT) last released its earnings results on Tuesday, May 12th. The company reported GBX 21.40 earnings per share (EPS) for the quarter. Bytes Technology Group had a return on equity of 64.69% and a net margin of 23.25%.The firm had revenue of £220.56 million during the quarter. As a group, equities analysts predict that Bytes Technology Group will post 11.3463262 EPS 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.