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Bytes Technology Group Plc ( (GB:BYIT) ) just unveiled an announcement.
Bytes Technology Group Plc announced the purchase of 95,000 of its ordinary shares at a price of 412.80 GBP per share 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 239,090,507. This transaction reflects the company’s strategic decision to manage its share capital and potentially enhance shareholder value.
The most recent analyst rating on (GB:BYIT) stock is a Buy with a £447.00 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 with a primary listing on the Main Market of the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. The company operates in the technology sector, focusing on providing technology services and solutions.
Average Trading Volume: 1,096,616
Technical Sentiment Signal: Sell
Current Market Cap: £967.6M
For detailed information about BYIT stock, go to TipRanks’ Stock Analysis page.