SITO Mobile, Ltd. (SITO) PT Raised to $10.00 at Maxim Group

SITO Mobile, Ltd. (NASDAQ:SITO) had its target price hoisted by equities research analysts at Maxim Group from $8.00 to $10.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the Wireless communications provider’s stock. Maxim Group’s price objective points to a potential upside of 33.69% from the company’s previous close.

Several other brokerages have also issued reports on SITO. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $7.80 price objective on shares of SITO Mobile in a report on Wednesday, August 16th. lowered shares of SITO Mobile from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. lowered shares of SITO Mobile from a “buy” rating to a “hold” rating in a report on Friday, August 11th. set a $4.00 price objective on shares of SITO Mobile and gave the company a “buy” rating in a report on Tuesday, August 15th. Finally, reissued an “outperform” rating on shares of SITO Mobile in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $8.63.

Shares of SITO Mobile (NASDAQ:SITO) opened at $7.48 on Wednesday. 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 quarterly earnings data on Thursday, August 17th. The Wireless communications provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). The business had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $10.75 million. SITO Mobile had a negative net margin of 20.97% and a negative return on equity of 24.74%. equities research analysts expect that SITO Mobile will post -0.38 earnings per share for the current year.

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In other news, Director Chester Petrow purchased 68,800 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average cost of $3.98 per share, with a total value of $273,824.00. Following the completion of the acquisition, the director now owns 286,968 shares of the company’s stock, valued at $1,142,132.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.46% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC purchased a new position in SITO Mobile in the third quarter worth $204,000. Regentatlantic Capital LLC grew its holdings in SITO Mobile by 9.5% in the second quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock worth $327,000 after purchasing an additional 7,673 shares during the last quarter. National Asset Management Inc. grew its holdings in SITO Mobile by 270.4% in the second 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 during the last quarter. Finally, Cannell Peter B & Co. Inc. grew its holdings in SITO Mobile by 10.7% in the third quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock worth $6,305,000 after purchasing an additional 85,300 shares during the last quarter. 13.65% of the stock is currently owned by institutional investors and hedge funds.

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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