SITO Mobile, Ltd. (SITO) Issues Earnings Results
SITO Mobile, Ltd. (NASDAQ:SITO) issued its quarterly earnings results on Tuesday. The Wireless communications provider reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.06), Briefing.com reports. SITO Mobile had a negative return on equity of 48.66% and a negative net margin of 29.34%. The firm had revenue of $11.10 million for the quarter, compared to analyst estimates of $11.34 million. The firm’s quarterly revenue was up 29.7% on a year-over-year basis.
SITO Mobile (SITO) opened at $7.61 on Thursday. SITO Mobile has a fifty-two week low of $1.71 and a fifty-two week high of $8.60.
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In related news, Director Chester Petrow acquired 68,800 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was acquired at an average price of $3.98 per share, with a total value of $273,824.00. Following the acquisition, the director now directly owns 286,968 shares in the company, valued at approximately $1,142,132.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.50% of the company’s stock.
A number of analysts have commented on SITO shares. Maxim Group reaffirmed a “buy” rating and set a $8.00 price target (up previously from $5.00) on shares of SITO Mobile in a research report on Wednesday, September 27th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $7.80 price target on shares of SITO Mobile in a research report on Wednesday, August 16th. Craig Hallum raised SITO Mobile from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, October 30th. Lake Street Capital started coverage on SITO Mobile in a research report on Wednesday, October 25th. They set a “buy” rating and a $10.00 price target for the company. Finally, lifted their price target on SITO Mobile from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $8.63.
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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