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The latest announcement is out from Bytes Technology Group Plc ( (GB:BYIT) ).
Bytes Technology Group Plc announced the purchase of 92,000 of its ordinary shares as part of its Share Buyback Programme. The shares were acquired at a volume-weighted average price of 396.44 GBP per share, with the intention to cancel them, reducing the total number of shares in issue to 240,265,354. This move is likely to impact the company’s share value and market positioning by potentially increasing shareholder value and consolidating ownership.
The most recent analyst rating on (GB:BYIT) stock is a Buy with a £459.00 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 potential bullish momentum, while the valuation is fair with a reasonable P/E ratio and attractive dividend yield. 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 operates in the technology sector, focusing on providing IT solutions and services. The company is primarily involved in software licensing, digital transformation, and cloud services, catering to a diverse range of industries.
Average Trading Volume: 1,397,906
Technical Sentiment Signal: Sell
Current Market Cap: £943.1M
Find detailed analytics on BYIT stock on TipRanks’ Stock Analysis page.