Analysts predict that Sito Mobile Ltd (NASDAQ:SITO) will report $12.40 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Sito Mobile’s earnings, with the highest sales estimate coming in at $12.50 million and the lowest estimate coming in at $12.30 million. Sito Mobile posted sales of $7.46 million during the same quarter last year, which suggests a positive year-over-year growth rate of 66.2%. The company is scheduled to issue its next earnings results on Tuesday, March 27th.
According to Zacks, analysts expect that Sito Mobile will report full-year sales of $12.40 million for the current fiscal year, with estimates ranging from $41.00 million to $41.02 million. For the next financial year, analysts expect that the company will post sales of $52.50 million per share, with estimates ranging from $51.20 million to $53.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Sito Mobile.
A number of equities research analysts have weighed in on the company. Maxim Group set a $10.00 target price on Sito Mobile and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Ladenburg Thalmann Financial Services downgraded Sito Mobile from a “buy” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Friday, November 17th. Zacks Investment Research downgraded Sito Mobile from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. Cowen restated an “outperform” rating on shares of Sito Mobile in a research report on Wednesday, November 15th. Finally, upped their target price on Sito Mobile from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.00.
Sito Mobile (NASDAQ SITO) traded down $0.09 on Monday, reaching $4.69. The company’s stock had a trading volume of 101,314 shares, compared to its average volume of 236,971. The firm has a market capitalization of $122.64, a P/E ratio of -9.37 and a beta of -1.36. Sito Mobile has a 12-month low of $1.76 and a 12-month high of $8.60.
In related news, CEO Thomas Pallack purchased 5,625 shares of the company’s stock in a transaction on Friday, December 29th. The shares were bought at an average price of $6.60 per share, with a total value of $37,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SITO. Cannell Peter B & Co. Inc. increased its holdings in shares of 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 valued at $6,305,000 after buying an additional 85,300 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Sito Mobile in the third quarter valued at $204,000. National Asset Management Inc. increased its holdings in shares of Sito Mobile by 36.4% in the third quarter. National Asset Management Inc. now owns 682,000 shares of the Wireless communications provider’s stock valued at $4,870,000 after buying an additional 182,000 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Sito Mobile by 570.3% in the fourth quarter. Wells Fargo & Company MN now owns 17,628 shares of the Wireless communications provider’s stock valued at $119,000 after buying an additional 14,998 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Sito Mobile in the fourth quarter valued at $120,000. 13.41% of the stock is currently owned by institutional investors.
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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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