Cowen and Company started coverage on shares of SITO Mobile Ltd. (NASDAQ:SITO) in a research note issued to investors on Monday. The firm issued an outperform rating and a $6.00 price target on the stock.
Several other equities analysts have also commented on SITO. Zacks Investment Research raised shares of SITO Mobile from a hold rating to a buy rating and set a $5.75 target price on the stock in a report on Wednesday, September 7th. Aegis initiated coverage on shares of SITO Mobile in a report on Monday, September 12th. They issued a buy rating and a $6.50 price target on the stock. Five equities research analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average price target of $6.55.
Shares of SITO Mobile (NASDAQ:SITO) opened at 3.66 on Monday. The company has a 50 day moving average of $4.82 and a 200-day moving average of $4.20. SITO Mobile has a 12-month low of $1.55 and a 12-month high of $6.08. The firm has a market cap of $75.69 million, a price-to-earnings ratio of 32.97 and a beta of -1.18.
SITO Mobile (NASDAQ:SITO) last released its earnings results on Monday, November 14th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. SITO Mobile had a negative net margin of 0.98% and a negative return on equity of 3.92%. The company had revenue of $10.30 million for the quarter, compared to analyst estimates of $9.94 million. Analysts predict that SITO Mobile will post $0.04 EPS for the current year.
Large investors have recently made changes to their positions in the company. Symmetry Peak Management LLC bought a new stake in shares of SITO Mobile during the third quarter worth $451,000. Formula Growth Ltd. bought a new stake in shares of SITO Mobile during the third quarter worth $821,000. Akanthos Capital Management LLC raised its stake in shares of SITO Mobile by 171.8% in the third quarter. Akanthos Capital Management LLC now owns 316,397 shares of the company’s stock worth $1,392,000 after buying an additional 200,000 shares during the last quarter. Northern Trust Corp bought a new stake in shares of SITO Mobile during the third quarter worth $108,000. Finally, Perkins Capital Management Inc. bought a new stake in shares of SITO Mobile during the third quarter worth $198,000. 16.46% of the stock is currently owned by institutional investors and hedge funds.
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