PowerFleet, Inc. (NASDAQ:AIOT) Stock Has Consensus Target Price of $7.40 According to Analysts

Key Points

• Analysts have a consensus “Hold” rating on PowerFleet, split between two buys, two holds, and one sell. Their average 12-month price target is $7.40.
• Recent analyst actions were mixed: Craig Hallum cut its target from $9 to $6 but maintained a “Buy,” while Raymond James downgraded the stock to “Market Perform.”
• PowerFleet reported quarterly EPS of $0.04, beating the consensus estimate of a $0.02 loss, and revenue of $115.72 million, slightly above expectations.

PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) has earned a consensus rating of "Hold" from the five research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $7.40.

Several brokerages recently issued reports on AIOT. Craig Hallum cut their price target on shares of PowerFleet from $9.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Raymond James Financial lowered shares of PowerFleet from an "outperform" rating to a "market perform" rating in a report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of PowerFleet in a research note on Friday, September 11th. Northland Securities set a $7.00 target price on PowerFleet in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded PowerFleet from a "hold" rating to a "sell" rating in a report on Saturday, August 15th.

Hedge Funds Weigh In On PowerFleet

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in PowerFleet during the 2nd quarter worth about $39,489,000. AWM Investment Company Inc. acquired a new position in shares of PowerFleet during the second quarter worth approximately $14,709,000. Renaissance Technologies LLC lifted its position in shares of PowerFleet by 1,644.7% during the first quarter. Renaissance Technologies LLC now owns 1,530,725 shares of the company's stock worth $4,715,000 after purchasing an additional 1,442,989 shares in the last quarter. Kopion Asset Management LLC grew its stake in shares of PowerFleet by 36.3% during the third quarter. Kopion Asset Management LLC now owns 3,303,859 shares of the company's stock valued at $9,383,000 after purchasing an additional 879,571 shares during the last quarter. Finally, Private Management Group Inc. grew its stake in shares of PowerFleet by 14.6% during the third quarter. Private Management Group Inc. now owns 6,566,333 shares of the company's stock valued at $18,648,000 after purchasing an additional 835,196 shares during the last quarter. Institutional investors own 73.40% of the company's stock.

PowerFleet Price Performance

PowerFleet stock opened at $2.43 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market capitalization of $327.95 million, a PE ratio of -15.19 and a beta of 1.42. PowerFleet has a one year low of $2.29 and a one year high of $5.81. The business has a 50 day simple moving average of $2.76 and a 200 day simple moving average of $3.40.

PowerFleet (NASDAQ:AIOT - Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.06. PowerFleet had a positive return on equity of 2.36% and a negative net margin of 4.69%. The firm had revenue of $115.72 million for the quarter, compared to analysts' expectations of $114.89 million. During the same period in the prior year, the business posted ($0.02) earnings per share. On average, sell-side analysts forecast that PowerFleet will post 0.08 EPS for the current fiscal year.

PowerFleet Company Profile

PowerFleet, Inc. provides software-as-a-service and Internet of Things solutions that help businesses monitor and manage vehicles, equipment, cargo and other mobile assets. Its platforms use connected devices and data analytics to provide visibility into asset location, utilization, condition and performance. Its offerings include fleet management and vehicle telematics, asset tracking, driver and safety tools, and solutions for managing equipment in warehouses and other industrial settings. These services are designed to help customers improve operational efficiency, safety and asset control.

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