Today, SITO Mobile Ltd. (SITO) Now Covered by Analysts at Cowen and Company

Today, SITO Mobile Ltd. (SITO) Now Covered by Analysts at Cowen and Company

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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