Karooooo (NASDAQ:KARO) Trading Down 3.3% - Here's What Happened

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

Analysts Set New Price Targets

Separately, Raymond James boosted their target price 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 Stock Performance

The stock's fifty day moving average is $47.72 and its two-hundred day moving average is $46.03. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 29.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25.

Karooooo (NASDAQ:KARO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.07. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. The firm had revenue of $65.12 million for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm posted $6.81 EPS. Analysts forecast that Karooooo Ltd. will post 1.57 earnings per share for the current year.

Institutional Trading of Karooooo

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Karooooo in the 4th quarter worth about $635,000. JPMorgan Chase & Co. increased its stake in Karooooo by 1,727.0% during the 4th quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company's stock valued at $403,000 after buying an additional 8,445 shares during the period. Squarepoint Ops LLC increased its stake in Karooooo by 6.8% during the 4th quarter. Squarepoint Ops LLC now owns 9,494 shares of the company's stock valued at $429,000 after buying an additional 602 shares during the period. Northern Trust Corp acquired a new position in Karooooo during the 4th quarter valued at about $340,000. Finally, BNP Paribas Financial Markets acquired a new position in Karooooo during the 4th quarter valued at about $210,000.

Karooooo Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.