PowerFleet, Inc. (NASDAQ:AIOT) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst sentiment is mixed, with PowerFleet receiving an average “Hold” rating from five analysts. The breakdown includes one sell, one hold, and three buy ratings, with an average 12-month price target of about $9.67.
• Recent analyst actions included a downgrade from Weiss Ratings to sell, while Raymond James kept an outperform rating but cut its target to $7.00. UBS also set a $7.00 price target, and Wall Street Zen upgraded the stock to hold.
• PowerFleet reported better-than-expected revenue of $114.49 million and earnings of $0.04 per share in its latest quarter, and its board approved a $30 million share repurchase plan covering up to 6% of shares outstanding.

Shares of PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) have received an average rating of "Hold" from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.6667.

A number of equities research analysts recently weighed in on the company. Weiss Ratings downgraded PowerFleet from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Tuesday, June 16th. UBS Group set a $7.00 price target on PowerFleet in a report on Tuesday, June 16th. Wall Street Zen upgraded PowerFleet from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Raymond James Financial decreased their price objective on PowerFleet from $8.00 to $7.00 and set an "outperform" rating on the stock in a report on Tuesday, June 16th.

PowerFleet Stock Performance

PowerFleet stock traded down $0.04 during mid-day trading on Friday, reaching $4.24. The company had a trading volume of 702,585 shares, compared to its average volume of 1,733,337. The company has a quick ratio of 0.99, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. PowerFleet has a 52 week low of $2.78 and a 52 week high of $5.88. The company has a 50 day moving average of $3.77 and a 200-day moving average of $3.98. The firm has a market cap of $568.93 million, a price-to-earnings ratio of -26.50 and a beta of 1.42.

PowerFleet (NASDAQ:AIOT - Get Free Report) last posted its quarterly earnings data on Monday, June 15th. The company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $114.49 million for the quarter, compared to the consensus estimate of $112.98 million. PowerFleet had a negative net margin of 4.63% and a negative return on equity of 1.33%. During the same quarter in the previous year, the firm posted ($0.09) EPS. On average, sell-side analysts expect that PowerFleet will post 0.17 EPS for the current fiscal year.

PowerFleet declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 30th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On PowerFleet

Institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in PowerFleet by 1.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,082 shares of the company's stock valued at $888,000 after buying an additional 2,871 shares in the last quarter. Connors Investor Services Inc. raised its stake in shares of PowerFleet by 5.7% in the fourth quarter. Connors Investor Services Inc. now owns 56,000 shares of the company's stock valued at $298,000 after acquiring an additional 3,000 shares during the last quarter. R Squared Ltd boosted its holdings in shares of PowerFleet by 40.6% in the 4th quarter. R Squared Ltd now owns 16,073 shares of the company's stock worth $86,000 after acquiring an additional 4,640 shares in the last quarter. Royal Bank of Canada grew its position in PowerFleet by 76.9% during the 1st quarter. Royal Bank of Canada now owns 11,233 shares of the company's stock worth $34,000 after acquiring an additional 4,883 shares during the last quarter. Finally, Clarus Group Inc. grew its position in PowerFleet by 26.7% during the 1st quarter. Clarus Group Inc. now owns 25,790 shares of the company's stock worth $79,000 after acquiring an additional 5,434 shares during the last quarter. Institutional investors own 73.40% of the company's stock.

About PowerFleet

PowerFleet, Inc NASDAQ: AIOT develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company's systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company's hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.

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