Sito Mobile Ltd (NASDAQ:SITO) has received an average rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $10.00.
Several equities analysts have commented on the company. Ladenburg Thalmann Financial Services downgraded Sito Mobile from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a report on Friday, November 17th. Cowen reissued an “outperform” rating on shares of Sito Mobile in a report on Wednesday, November 15th. Lake Street Capital assumed coverage on Sito Mobile in a research report on Wednesday, October 25th. They set a “buy” rating and a $10.00 target price for the company. Craig Hallum upgraded Sito Mobile from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Monday, October 30th. Finally, boosted their target price on Sito Mobile from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th.
In other news, CEO Thomas Pallack bought 5,625 shares of the stock in a transaction on Friday, December 29th. The shares were purchased at an average cost of $6.60 per share, for a total transaction of $37,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SITO. National Asset Management Inc. boosted its holdings in shares of Sito Mobile by 270.4% in the 2nd quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock worth $1,855,000 after purchasing an additional 365,000 shares in the last quarter. Cannell Peter B & Co. Inc. raised its position in Sito Mobile by 10.7% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock valued at $6,305,000 after purchasing an additional 85,300 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in Sito Mobile during the 3rd quarter valued at approximately $204,000. Institutional investors and hedge funds own 12.48% of the company’s stock.
Sito Mobile (SITO) traded down $0.06 on Monday, reaching $6.90. 46,138 shares of the company’s stock traded hands, compared to its average volume of 173,020. The stock has a market capitalization of $150.68, a P/E ratio of -11.69 and a beta of -1.21. Sito Mobile has a 12 month low of $1.71 and a 12 month high of $8.60.
Sito Mobile (NASDAQ:SITO) last issued its earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.06). Sito Mobile had a negative return on equity of 47.82% and a negative net margin of 29.34%. The business had revenue of $11.10 million for the quarter, compared to analyst estimates of $11.34 million. Sito Mobile’s revenue for the quarter was up 29.7% compared to the same quarter last year. sell-side analysts anticipate that Sito Mobile will post -0.44 EPS for the current fiscal year.
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Sito Mobile Company Profile
SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.
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