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Bytes Technology Group Plc ( (GB:BYIT) ) just unveiled an update.
Bytes Technology Group Plc has executed a share buyback, purchasing 100,000 of its ordinary shares at an average price of 393.1828 GBP per share. This transaction is part of a previously announced Share Buyback Programme, and the company plans to cancel these shares, reducing its total number of shares in issue to 240,171,886. This move is likely aimed at enhancing shareholder value by reducing the number of shares outstanding, potentially increasing earnings per share.
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 is a company listed on the London Stock Exchange and the Johannesburg Stock Exchange, operating in the technology sector. It focuses on providing technology solutions and services, catering to a diverse market.
Average Trading Volume: 1,399,143
Technical Sentiment Signal: Sell
Current Market Cap: £946.2M
See more data about BYIT stock on TipRanks’ Stock Analysis page.