Sito Mobile (NASDAQ:SITO) had its price objective boosted by from $8.00 to $10.00 in a research note published on Wednesday, November 15th. They currently have a buy rating on the Wireless communications provider’s stock.
SITO has been the topic of a number of other reports. Craig Hallum lowered Sito Mobile from a buy rating to a hold rating in a research note on Friday, August 11th. Ladenburg Thalmann Financial Services reiterated a buy rating and set a $7.80 price objective on shares of Sito Mobile in a research note on Wednesday, August 16th. Maxim Group set a $4.00 price objective on Sito Mobile and gave the company a buy rating in a research note on Tuesday, August 15th. Zacks Investment Research lowered Sito Mobile from a hold rating to a sell rating in a research note on Wednesday, July 19th. Finally, ValuEngine upgraded Sito Mobile from a sell rating to a hold rating in a research note on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Sito Mobile presently has an average rating of Hold and a consensus target price of $8.83.
Shares of Sito Mobile (NASDAQ:SITO) traded down $0.02 during midday trading on Wednesday, hitting $6.49. The stock had a trading volume of 172,939 shares, compared to its average volume of 222,415. Sito Mobile has a 1 year low of $1.71 and a 1 year high of $8.60.
Sito Mobile (NASDAQ:SITO) last issued its quarterly earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Sito Mobile had a negative net margin of 29.34% and a negative return on equity of 47.82%. The firm had revenue of $11.10 million for the quarter, compared to analysts’ expectations of $11.34 million. The firm’s revenue was up 29.7% on a year-over-year basis. sell-side analysts forecast that Sito Mobile will post -0.44 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in SITO. National Asset Management Inc. increased its stake in Sito Mobile by 270.4% in the 2nd quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock worth $1,855,000 after acquiring an additional 365,000 shares during the last quarter. Cannell Peter B & Co. Inc. increased its stake in Sito Mobile by 10.7% in the 3rd quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock worth $6,305,000 after acquiring an additional 85,300 shares during the last quarter. Private Advisor Group LLC bought a new position in Sito Mobile in the 3rd quarter worth about $204,000. Finally, Regentatlantic Capital LLC increased its position in shares of Sito Mobile by 9.5% during the 2nd quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock valued at $327,000 after purchasing an additional 7,673 shares during the last quarter. Institutional investors and hedge funds own 12.50% of the company’s stock.
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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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