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Bytes Technology Group Plc ( (GB:BYIT) ) has provided an announcement.
Bytes Technology Group Plc announced the purchase of 107,000 of its ordinary shares as part of its Share Buyback Programme. This move, conducted through Peel Hunt LLP, is intended to reduce the number of shares in circulation, potentially enhancing shareholder value by increasing the ownership percentage of remaining shares.
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 the Johannesburg Stock Exchange. It operates in the technology sector, focusing on providing IT solutions and services.
Average Trading Volume: 1,124,165
Technical Sentiment Signal: Sell
Current Market Cap: £888.7M
Find detailed analytics on BYIT stock on TipRanks’ Stock Analysis page.