Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Bytes Technology Group Plc ( (GB:BYIT) ) has provided an announcement.
Bytes Technology Group Plc announced the purchase of 107,750 of its ordinary shares on the London Stock Exchange as part of its Share Buyback Programme. This move is intended to cancel the purchased shares, reducing the total number of shares in issue to 237,939,716, which may impact the company’s stock value and shareholder equity.
The most recent analyst rating on (GB:BYIT) stock is a Buy with a £415.00 price target. To see the full list of analyst forecasts on Bytes Technology Group Plc stock, see the GB:BYIT Stock Forecast page.
Spark’s Take on GB:BYIT Stock
According to Spark, TipRanks’ AI Analyst, GB:BYIT is a Outperform.
Bytes Technology Group’s strong financial performance is the most significant factor, supported by solid revenue growth, profitability, and cash flow management. The valuation is reasonable with a good dividend yield, while technical indicators suggest a neutral outlook. The absence of earnings call and corporate events data does not impact the score.
To see Spark’s full report on GB:BYIT stock, click here.
More about Bytes Technology Group Plc
Bytes Technology Group Plc is a company listed on the Main Market of the London Stock Exchange and has a secondary listing on the Johannesburg Stock Exchange. The company operates in the technology sector, focusing on providing IT products and services.
Average Trading Volume: 1,124,165
Technical Sentiment Signal: Sell
Current Market Cap: £888.7M
Learn more about BYIT stock on TipRanks’ Stock Analysis page.