Bytes Technology Group (LON:BYIT) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Bytes Technology Group (LON:BYIT) had its price target lifted by analysts at Berenberg Bank from GBX 640 ($8.32) to GBX 660 ($8.58) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price target points to a potential upside of 35.17% from the stock’s current price.

Separately, Shore Capital reaffirmed a “buy” rating on shares of Bytes Technology Group in a research note on Tuesday.

Bytes Technology Group Trading Up 0.0 %

Shares of BYIT stock opened at GBX 488.26 ($6.35) on Tuesday. 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 stock has a market capitalization of £1.18 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. Bytes Technology Group has a 12-month low of GBX 400 ($5.20) and a 12-month high of GBX 610 ($7.93). The stock’s 50-day moving average price is GBX 436.45 and its 200-day moving average price is GBX 454.69.

Insider Transactions at Bytes Technology Group

In related news, insider Ross Paterson acquired 2,800 shares of the stock in a transaction on Monday, January 20th. The stock was bought at an average cost of GBX 427 ($5.55) per share, with a total value of £11,956 ($15,543.42). Company insiders own 9.51% of the company’s stock.

Bytes Technology Group Company Profile

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.