Market's view on Bytes Tech
Published on April 2024
- HSBC upgraded Bytes Technology with a ‘buy’ rating and a price target of 625 pence.
- A stock watcher observed a low volume trading day for Bytes, predicting a 20-30% increase in stock price by year-end, attributing current suppression to a seller.
- Another watcher noted a significant volume increase, suggesting ongoing purchasing by a fund, which could lead to a price increase.
- Concerns were raised about a sudden departure of a significant individual from the company, questioning the circumstances around the exit.
- A watcher highlighted the company’s resilience, noting widespread use among technology providers and government agencies, and dismissed concerns over accounting improprieties.
- Issues were discussed regarding individuals within the company affecting stock prices through inappropriate trading, debating the impact on the company’s long-term trust and integrity.
- It was pointed out that despite one individual’s misconduct, the company’s fundamentals like growth in gross margins and strong business performance remain solid.
- The company’s commitment to core values of integrity and communication was reaffirmed in light of recent events.
- There was a debate about the potential ongoing involvement of a problematic individual in the company, either through direct role or consultancy, considering the integrity of the business.
- A detailed biography of Neil Murphy was shared, outlining his long-term impact on Bytes’ growth and the culture within the company.