Sito Mobile (SITO) Issues Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Sito Mobile (NASDAQ:SITO) announced its earnings results on Wednesday. The Wireless communications provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.05), Fidelity Earnings reports. Sito Mobile had a negative net margin of 29.34% and a negative return on equity of 47.82%.

Sito Mobile stock traded down $0.44 during midday trading on Thursday, hitting $4.14. 840,546 shares of the stock were exchanged, compared to its average volume of 233,887. Sito Mobile has a one year low of $2.06 and a one year high of $8.60. The firm has a market cap of $107.06, a P/E ratio of -8.12 and a beta of -1.36.

In other news, CEO Thomas Pallack bought 5,625 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was acquired at an average price of $6.60 per share, for a total transaction of $37,125.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.46% of the company’s stock.

Several brokerages recently weighed in on SITO. Maxim Group set a $8.00 target price on shares of Sito Mobile and gave the company a “buy” rating in a research note on Thursday. ValuEngine downgraded shares of Sito Mobile from a “hold” rating to a “sell” rating in a research note on Tuesday. Ladenburg Thalmann Financial Services raised shares of Sito Mobile from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, December 14th. Finally, Zacks Investment Research raised shares of Sito Mobile from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $8.67.

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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.

Earnings History for Sito Mobile (NASDAQ:SITO)

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