Shares of SITO Mobile Ltd. (NASDAQ:SITO) have received a consensus broker rating score of 1.20 (Strong Buy) from the five brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and four have assigned a strong buy recommendation to the company. SITO Mobile’s rating score has improved by 4% from three months ago as a result of a number of analysts’ ratings changes.
Brokerages have set a one year consensus target price of $7.75 for the company and are expecting that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also assigned SITO Mobile an industry rank of 88 out of 265 based on the ratings given to its competitors.
A number of brokerages have recently issued reports on SITO. Zacks Investment Research upgraded shares of SITO Mobile from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Wednesday, September 7th. Craig Hallum began coverage on shares of SITO Mobile in a report on Wednesday, July 6th. They set a “buy” rating and a $6.50 price objective for the company. Finally, Aegis began coverage on shares of SITO Mobile in a report on Monday, September 12th. They set a “buy” rating and a $6.50 price objective for the company.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cannell Peter B & Co. Inc. boosted its position in SITO Mobile by 20.2% in the second quarter. Cannell Peter B & Co. Inc. now owns 541,695 shares of the company’s stock valued at $1,961,000 after buying an additional 91,000 shares during the period. Baird Financial Group Inc. purchased a new position in SITO Mobile during the second quarter valued at $235,000. Finally, BlackRock Fund Advisors boosted its position in SITO Mobile by 917.7% in the second quarter. BlackRock Fund Advisors now owns 30,420 shares of the company’s stock valued at $110,000 after buying an additional 27,431 shares during the period. Institutional investors and hedge funds own 16.05% of the company’s stock.
SITO Mobile (NASDAQ:SITO) opened at 5.17 on Tuesday. SITO Mobile has a one year low of $1.55 and a one year high of $6.08. The company’s market capitalization is $89.84 million. The stock’s 50 day moving average is $4.83 and its 200 day moving average is $3.81.
SITO Mobile (NASDAQ:SITO) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. SITO Mobile had a negative net margin of 12.28% and a negative return on equity of 48.98%. On average, analysts anticipate that SITO Mobile will post $0.03 earnings per share for the current fiscal year.
About SITO Mobile
SITO Mobile Ltd., formerly Single Touch Systems Inc, is a provider of mobile location-based advertising platform serving businesses, advertisers and brands. The Company provides solutions through its platform, which allows marketers to create content targeted to audiences, based on location, interests, behaviors and loyalty.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SITO Mobile Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITO Mobile Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.