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Bytes Technology Group Plc ( (GB:BYIT) ) has provided an update.
Bytes Technology Group Plc has executed a share buyback program, purchasing 100,000 of its ordinary shares on the London Stock Exchange at an average price of 416.4291 GBP per share. The company plans to cancel these shares, reducing its total number of ordinary shares in issue to 241,276,713, which may impact its market capitalization and shareholder value.
The most recent analyst rating on (GB:BYIT) stock is a Buy with a £468.00 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, characterized by robust revenue growth and profitability, is the primary driver of its stock score. Technical indicators suggest bullish momentum, though caution is advised due to potential overbought conditions. The valuation is reasonable, offering a solid dividend yield but limited growth potential. 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 London Stock Exchange and Johannesburg Stock Exchange, operating in the technology sector. The company focuses on providing IT solutions and services, catering to a diverse range of clients across various industries.
Average Trading Volume: 1,312,505
Technical Sentiment Signal: Sell
Current Market Cap: £1B
For a thorough assessment of BYIT stock, go to TipRanks’ Stock Analysis page.