SITO Mobile, Ltd. (SITO) Receives New Coverage from Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of SITO Mobile, Ltd. (NASDAQ:SITO) in a report issued on Wednesday morning. The firm issued a buy rating and a $10.00 price objective on the Wireless communications provider’s stock.

A number of other equities research analysts have also recently commented on SITO. Zacks Investment Research upgraded shares of SITO Mobile from a strong sell rating to a hold rating in a report on Tuesday. Craig Hallum cut shares of SITO Mobile from a buy rating to a hold rating in a report on Friday, August 11th. Maxim Group set a $4.00 price target on shares of SITO Mobile and gave the company a buy rating in a report on Tuesday, August 15th. Ladenburg Thalmann Financial Services reiterated a buy rating and set a $7.80 price target on shares of SITO Mobile in a report on Wednesday, August 16th. Finally, ValuEngine cut shares of SITO Mobile from a hold rating to a sell rating in a report on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. SITO Mobile presently has a consensus rating of Buy and a consensus target price of $6.76.

SITO Mobile (NASDAQ:SITO) traded up 10.95% during trading on Wednesday, reaching $7.80. The company’s stock had a trading volume of 636,468 shares. The firm’s market cap is $170.87 million. The company has a 50-day moving average of $6.10 and a 200 day moving average of $4.52. SITO Mobile has a one year low of $1.71 and a one year high of $7.89.

SITO Mobile (NASDAQ:SITO) last posted its quarterly earnings results on Thursday, August 17th. The Wireless communications provider reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.04). SITO Mobile had a negative net margin of 20.97% and a negative return on equity of 24.74%. The firm had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $10.75 million. Analysts expect that SITO Mobile will post ($0.37) EPS for the current fiscal year.

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In related news, Director Chester Petrow bought 68,800 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average price of $3.98 per share, for a total transaction of $273,824.00. Following the completion of the acquisition, the director now owns 286,968 shares of the company’s stock, valued at approximately $1,142,132.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.50% of the company’s stock.

An institutional investor recently raised its position in SITO Mobile stock. Regentatlantic Capital LLC increased its stake in SITO Mobile, Ltd. (NASDAQ:SITO) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,079 shares of the Wireless communications provider’s stock after purchasing an additional 7,673 shares during the quarter. Regentatlantic Capital LLC owned 0.43% of SITO Mobile worth $327,000 at the end of the most recent quarter. 13.83% of the stock is currently owned by institutional investors.

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)

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