Wall Street brokerages expect Sito Mobile Ltd (NASDAQ:SITO) to announce sales of $12.40 million for the current quarter, according to Zacks. Two analysts have made estimates for Sito Mobile’s earnings. The highest sales estimate is $12.50 million and the lowest is $12.30 million. Sito Mobile posted sales of $7.46 million during the same quarter last year, which indicates a positive year-over-year growth rate of 66.2%. The firm is expected to issue its next earnings report on Tuesday, March 27th.
According to Zacks, analysts expect that Sito Mobile will report full year sales of $12.40 million for the current financial year, with estimates ranging from $41.00 million to $41.02 million. For the next year, analysts expect that the business will report sales of $52.50 million per share, with estimates ranging from $51.20 million to $53.80 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Sito Mobile.
Sito Mobile (NASDAQ:SITO) last released its quarterly 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 net margin of 29.34% and a negative return on equity of 47.82%. The business had revenue of $11.10 million during the quarter, compared to analyst estimates of $11.34 million. The business’s revenue was up 29.7% compared to the same quarter last year.
Several research firms recently commented on SITO. Zacks Investment Research upgraded shares of Sito Mobile from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Maxim Group set a $10.00 price target on shares of Sito Mobile and gave the company a “buy” rating in a research note on Wednesday, November 15th. Ladenburg Thalmann Financial Services downgraded shares of Sito Mobile from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research note on Friday, November 17th. Lake Street Capital began coverage on shares of Sito Mobile in a research note on Wednesday, October 25th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Cowen restated an “outperform” rating on shares of Sito Mobile in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.00.
Sito Mobile (NASDAQ:SITO) traded down $0.06 during mid-day trading on Friday, hitting $6.91. 107,500 shares of the company traded hands, compared to its average volume of 92,558. Sito Mobile has a fifty-two week low of $1.71 and a fifty-two week high of $8.60. The firm has a market capitalization of $152.21, a P/E ratio of -13.55 and a beta of -1.21.
In other news, CEO Thomas Pallack acquired 5,625 shares of Sito Mobile stock in a transaction on Friday, December 29th. The shares were purchased at an average cost of $6.60 per share, for a total transaction of $37,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SITO. National Asset Management Inc. grew its stake in Sito Mobile by 270.4% during the second quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock worth $1,855,000 after buying an additional 365,000 shares in the last quarter. Cannell Peter B & Co. Inc. grew its stake in Sito Mobile by 10.7% during 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 buying an additional 85,300 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Sito Mobile during the third quarter worth about $204,000. Hedge funds and other institutional investors own 12.48% of the company’s stock.
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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.
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