Karooooo (NASDAQ:KARO) Price Target Raised to $75.00 at Raymond James Financial

Key Points

• Raymond James Financial raised its price target on Karooooo to $75 from $60 and kept an outperform rating, implying about 19.7% upside from the current share price.
• Other analysts remain largely bullish: the stock now has a consensus Buy rating and an average target price of $73.50, though one firm recently downgraded it to hold.
• Karooooo reported strong quarterly results, with EPS of $0.59 beating estimates and revenue of $96.26 million, while the company also gave FY 2027 guidance of 2.334-2.425 EPS.

Karooooo (NASDAQ:KARO - Get Free Report) had its target price upped by research analysts at Raymond James Financial from $60.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price objective suggests a potential upside of 19.66% from the company's current price.

KARO has been the topic of a number of other research reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Karooooo in a research note on Friday, April 24th. Roth Capital reaffirmed a "buy" rating and set a $74.00 target price on shares of Karooooo in a research note on Friday. Wall Street Zen lowered Karooooo from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. UBS Group reiterated a "buy" rating and issued a $75.00 price target on shares of Karooooo in a research report on Thursday. Finally, Needham & Company LLC upped their price target on shares of Karooooo from $60.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $73.50.

Karooooo Stock Performance

Shares of NASDAQ:KARO traded down $2.48 during trading on Friday, hitting $62.67. 150,420 shares of the company traded hands, compared to its average volume of 76,629. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.17. The business's fifty day moving average is $49.88 and its 200-day moving average is $48.72. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 31.82 and a beta of 0.89. Karooooo has a one year low of $41.25 and a one year high of $66.19.

Karooooo (NASDAQ:KARO - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. The business had revenue of $96.26 million during the quarter. Karooooo had a return on equity of 33.60% and a net margin of 17.74%.Karooooo has set its FY 2027 guidance at 2.334-2.425 EPS. As a group, equities analysts predict that Karooooo will post 2.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Karooooo

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Karooooo by 9.5% in the 1st quarter. Bank of America Corp DE now owns 8,798 shares of the company's stock valued at $438,000 after purchasing an additional 764 shares during the period. Lazard Asset Management LLC purchased a new stake in Karooooo during the first quarter valued at about $1,015,000. Renaissance Technologies LLC boosted its holdings in shares of Karooooo by 1.4% in the first quarter. Renaissance Technologies LLC now owns 27,987 shares of the company's stock worth $1,395,000 after buying an additional 400 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Karooooo by 35.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 19,259 shares of the company's stock worth $960,000 after buying an additional 4,999 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Karooooo in the first quarter worth approximately $296,000.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo's SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.

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