Sito Mobile Ltd (SITO) Given Consensus Recommendation of “Hold” by Analysts
Sito Mobile Ltd (NASDAQ:SITO) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.80.
Several research firms have recently commented on SITO. ValuEngine raised shares of Sito Mobile from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Maxim Group set a $10.00 price target on shares of Sito Mobile and gave the company a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research raised shares of Sito Mobile from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. lifted their price target on shares of Sito Mobile from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, Craig Hallum raised shares of 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.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. National Asset Management Inc. lifted its position in Sito Mobile by 36.4% during the 3rd quarter. National Asset Management Inc. now owns 682,000 shares of the Wireless communications provider’s stock valued at $4,870,000 after acquiring an additional 182,000 shares during the period. Private Advisor Group LLC purchased a new position in Sito Mobile during the 3rd quarter valued at about $204,000. Finally, Cannell Peter B & Co. Inc. lifted 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 acquiring an additional 85,300 shares during the period. 12.50% of the stock is owned by institutional investors.
Sito Mobile (NASDAQ SITO) traded up $0.08 during trading hours on Thursday, hitting $6.43. 108,475 shares of the stock traded hands, compared to its average volume of 221,298. Sito Mobile has a 12-month low of $1.71 and a 12-month high of $8.60.
Sito Mobile (NASDAQ:SITO) last posted its earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $11.10 million during the quarter, compared to analysts’ expectations of $11.34 million. The firm’s revenue for the quarter was up 29.7% on a year-over-year basis. research analysts predict that Sito Mobile will post -0.44 earnings per share for the current year.
About Sito Mobile
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.
Receive News & Ratings for Sito Mobile Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sito Mobile Ltd and related companies with Analyst Ratings Network's FREE daily email newsletter.