Berenberg Bank Boosts Bytes Technology Group (LON:BYIT) Price Target to GBX 660

Bytes Technology Group (LON:BYIT - Get Free Report) had its target price increased by equities research analysts at Berenberg Bank from GBX 640 ($8.26) to GBX 660 ($8.52) in a research note issued on Tuesday, Marketbeat reports. The firm presently has a "buy" rating on the stock. Berenberg Bank's price objective suggests a potential upside of 34.97% from the company's previous close.

Separately, Shore Capital reiterated a "buy" rating on shares of Bytes Technology Group in a report on Tuesday, March 18th.

Bytes Technology Group Price Performance

LON:BYIT traded down GBX 1 ($0.01) during trading hours on Tuesday, reaching GBX 489 ($6.31). 972,124 shares of the company traded hands, compared to its average volume of 1,334,995. The firm's 50-day moving average is GBX 440.68 and its 200-day moving average is GBX 454.97. The stock has a market cap of £1.18 billion, a P/E ratio of 22.73, a P/E/G ratio of 2.27 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98. Bytes Technology Group has a 1-year low of GBX 400 ($5.17) and a 1-year high of GBX 610 ($7.88).

Insider Transactions at Bytes Technology Group

In other Bytes Technology Group news, insider Ross Paterson acquired 2,800 shares of the firm's stock in a transaction dated Monday, January 20th. The shares were acquired at an average price of GBX 427 ($5.51) per share, for a total transaction of £11,956 ($15,439.05). Insiders own 9.51% of the company's stock.

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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.