SITO Mobile, Ltd. (SITO) Stock Rating Lowered by Ladenburg Thalmann Financial Services

Ladenburg Thalmann Financial Services cut shares of SITO Mobile, Ltd. (NASDAQ:SITO) from a buy rating to a neutral rating in a research report released on Friday, Marketbeat Ratings reports. The firm currently has $9.00 target price on the Wireless communications provider’s stock.

A number of other equities research analysts have also recently weighed in on SITO. Craig Hallum cut SITO Mobile from a buy rating to a hold rating in a research note on Friday, August 11th. Cowen and Company restated an outperform rating on shares of SITO Mobile in a research note on Wednesday, November 15th. Zacks Investment Research upgraded SITO Mobile from a strong sell rating to a hold rating in a research note on Tuesday, October 24th. upped their price objective on SITO Mobile from $8.00 to $10.00 and gave the stock a buy rating in a research note on Wednesday, November 15th. Finally, Maxim Group set a $10.00 price objective on SITO Mobile and gave the stock a buy rating in a research note on Wednesday, November 15th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. SITO Mobile has a consensus rating of Buy and a consensus price target of $8.83.

Shares of SITO Mobile (SITO) opened at $7.94 on Friday. SITO Mobile has a 12 month low of $1.71 and a 12 month high of $8.60.

SITO Mobile (NASDAQ:SITO) last issued its quarterly earnings data on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The company had revenue of $11.10 million for the quarter, compared to analysts’ expectations of $11.34 million. SITO Mobile had a negative return on equity of 47.82% and a negative net margin of 29.34%. The business’s quarterly revenue was up 29.7% on a year-over-year basis. equities research analysts predict that SITO Mobile will post -0.42 EPS for the current year.

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In other SITO Mobile news, Director Chester Petrow bought 68,800 shares of SITO Mobile stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average cost of $3.98 per share, with a total value of $273,824.00. Following the transaction, the director now directly owns 286,968 shares of the company’s stock, valued at approximately $1,142,132.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.46% of the company’s stock.

A number of large investors have recently made changes to their positions in SITO. National Asset Management Inc. increased its position in SITO Mobile by 270.4% during the 2nd quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock valued at $1,855,000 after buying an additional 365,000 shares in the last quarter. Cannell Peter B & Co. Inc. increased its holdings in shares of SITO Mobile by 10.7% in the third quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock valued at $6,305,000 after purchasing an additional 85,300 shares during the period. Private Advisor Group LLC acquired a new position in shares of SITO Mobile in the third quarter valued at about $204,000. Finally, Regentatlantic Capital LLC increased its holdings in shares of SITO Mobile by 9.5% in the second quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock valued at $327,000 after purchasing an additional 7,673 shares during the period. 15.07% of the stock is currently owned by institutional investors.

About SITO Mobile

SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.

Analyst Recommendations for SITO Mobile (NASDAQ:SITO)

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