Karooooo (NASDAQ:KARO) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Karooooo (NASDAQ:KARO - Free Report) in a research note released on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $60.00 target price on the stock.

Several other research firms have also weighed in on KARO. Morgan Stanley reiterated an "overweight" rating and issued a $53.00 price objective (up from $43.00) on shares of Karooooo in a research note on Thursday, June 26th. Raymond James Financial upped their price objective on Karooooo from $51.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th.

Karooooo Stock Performance

KARO traded down $0.37 on Wednesday, hitting $50.05. 61,900 shares of the stock traded hands, compared to its average volume of 43,790. Karooooo has a 52 week low of $28.04 and a 52 week high of $63.36. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.55 billion, a PE ratio of 30.15 and a beta of 1.08. The business has a fifty day moving average price of $51.29 and a two-hundred day moving average price of $46.48.

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

Institutional Investors Weigh In On Karooooo

A number of large investors have recently bought and sold shares of KARO. Raymond James Financial Inc. bought a new stake in Karooooo during the 4th quarter worth approximately $635,000. JPMorgan Chase & Co. grew its position in Karooooo by 1,727.0% during the 4th quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company's stock worth $403,000 after acquiring an additional 8,445 shares during the last quarter. Marshall Wace LLP grew its position in Karooooo by 32.4% during the 4th quarter. Marshall Wace LLP now owns 39,021 shares of the company's stock worth $1,762,000 after acquiring an additional 9,552 shares during the last quarter. Northern Trust Corp bought a new stake in Karooooo during the 4th quarter worth approximately $340,000. Finally, BNP Paribas Financial Markets bought a new stake in Karooooo during the 4th quarter worth approximately $210,000.

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.