SITO Mobile (SITO) Stock Rating Upgraded by ValuEngine

SITO Mobile (NASDAQ:SITO) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.

Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered SITO Mobile from a “buy” rating to a “hold” rating in a research report on Wednesday. Maxim Group set a $8.00 price target on SITO Mobile and gave the company a “buy” rating in a research report on Thursday, March 22nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. SITO Mobile presently has a consensus rating of “Buy” and an average price target of $8.75.

SITO stock opened at $4.07 on Friday. The company has a market cap of $99.73 million, a P/E ratio of -8.14 and a beta of -1.12. SITO Mobile has a 12-month low of $3.01 and a 12-month high of $8.60.

SITO Mobile (NASDAQ:SITO) last posted its quarterly earnings results on Monday, May 14th. The Wireless communications provider reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.13). The firm had revenue of $11.15 million for the quarter, compared to analyst estimates of $9.25 million. SITO Mobile had a negative net margin of 38.36% and a negative return on equity of 90.57%. research analysts predict that SITO Mobile will post -0.03 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new stake in shares of SITO Mobile during the 4th quarter valued at approximately $113,000. Wells Fargo & Company MN grew its stake in SITO Mobile by 570.3% during the 4th quarter. Wells Fargo & Company MN now owns 17,628 shares of the Wireless communications provider’s stock worth $119,000 after buying an additional 14,998 shares during the last quarter. Virtu Financial LLC bought a new position in SITO Mobile during the 4th quarter worth $120,000. Monashee Investment Management LLC bought a new position in SITO Mobile during the 4th quarter worth $126,000. Finally, Private Advisor Group LLC bought a new position in SITO Mobile during the 1st quarter worth $106,000. 13.38% 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 in the United States and Canada. Its mobile location-based advertising platform allows to transform digital marketing by delivering targeted mobile advertising campaigns based on geo-location, in-store traffic, and customer response for brands, agencies, and retailers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SITO Mobile (NASDAQ:SITO)

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