Karooooo (NASDAQ:KARO) Stock Price Down 3.3% - Should You Sell?

Shares of Karooooo Ltd. (NASDAQ:KARO - Get Free Report) were down 3.3% on Monday . The company traded as low as $46.09 and last traded at $46.63. Approximately 43,590 shares traded hands during trading, an increase of 13% from the average daily volume of 38,724 shares. The stock had previously closed at $48.24.

Wall Street Analyst Weigh In

Separately, Raymond James Financial raised their price target on shares of Karooooo from $51.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th.

Karooooo Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 28.83 and a beta of 1.15. The business's 50-day moving average price is $48.29 and its two-hundred day moving average price is $46.08.

Karooooo (NASDAQ:KARO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. The firm had revenue of $65.12 million during the quarter, compared to the consensus estimate of $1.18 billion. Karooooo had a net margin of 20.17% and a return on equity of 30.98%. During the same quarter in the previous year, the company posted $6.81 earnings per share. On average, research analysts forecast that Karooooo Ltd. will post 1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Karooooo

Hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund acquired a new position in Karooooo in the fourth quarter worth $26,000. BNP Paribas Financial Markets acquired a new position in Karooooo in the fourth quarter worth $210,000. Lazard Asset Management LLC boosted its holdings in Karooooo by 17.5% in the fourth quarter. Lazard Asset Management LLC now owns 4,961 shares of the company's stock worth $223,000 after purchasing an additional 740 shares during the period. Nipun Capital L.P. bought a new stake in Karooooo in the first quarter valued at $242,000. Finally, Northern Trust Corp bought a new stake in Karooooo in the fourth quarter valued at $340,000.

About Karooooo

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.