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.
TRADEMARK VIOLATION NOTICE: “SITO Mobile, Ltd. (SITO) PT Raised to $10.00 at Maxim Group” was posted by Week Herald and is owned by of Week Herald. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://weekherald.com/2017/11/15/sito-mobile-ltd-sito-pt-raised-to-10-00-at-maxim-group.html.
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.
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 MarketBeat.com's FREE daily email newsletter.