Analysts Set Sito Mobile Ltd (SITO) Price Target at $10.00

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.

ILLEGAL ACTIVITY WARNING: “Analysts Set Sito Mobile Ltd (SITO) Price Target at $10.00” was originally posted by Equities Focus and is the property of of Equities Focus. If you are reading this article on another publication, it was illegally copied and republished in violation of United States & international trademark and copyright law. The legal version of this article can be read at https://www.equitiesfocus.com/2018/01/06/analysts-set-sito-mobile-ltd-sito-price-target-at-10-00.html.

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.

Analyst Recommendations for Sito Mobile (NASDAQ:SITO)

Receive News & Ratings for Sito Mobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sito Mobile and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply