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Bytes Technology Group Plc ( (GB:BYIT) ) has shared an update.
Bytes Technology Group Plc announced the purchase of 100,000 of its ordinary shares on the London Stock Exchange as part of its Share Buyback Programme. This move is intended to cancel the purchased shares, reducing the total number of shares in issue to 240,071,886, which could potentially enhance shareholder value by 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 Main Market of the London Stock Exchange and has a secondary listing on the Johannesburg Stock Exchange. It operates in the technology sector, focusing on providing IT solutions and services.
Average Trading Volume: 1,399,143
Technical Sentiment Signal: Sell
Current Market Cap: £946.2M
Find detailed analytics on BYIT stock on TipRanks’ Stock Analysis page.