PowerFleet (NASDAQ:AIOT) Releases Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• PowerFleet reported a quarterly earnings per share (EPS) of (-$0.08), missing analysts' expectations by $0.09.
• The company's stock has shown volatility, with a 12-month low of $3.70 and a high of $8.71, currently opening at $3.87.
• Recent analyst reports have varied, with some upgrading the stock to a "hold" rating while others have set price targets ranging up to $15.00.

PowerFleet (NASDAQ:AIOT - Get Free Report) released its quarterly earnings data on Monday. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.09), Zacks reports. PowerFleet had a negative return on equity of 8.56% and a negative net margin of 9.95%. The business had revenue of $104.12 million during the quarter, compared to analysts' expectations of $103.18 million. PowerFleet updated its FY 2026 guidance to EPS.

PowerFleet Price Performance

Shares of AIOT traded up $0.10 during trading hours on Friday, hitting $4.54. 937,506 shares of the company were exchanged, compared to its average volume of 1,967,775. The company has a market capitalization of $605.15 million, a PE ratio of -15.12 and a beta of 1.35. The firm has a fifty day simple moving average of $4.41 and a 200-day simple moving average of $5.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.07 and a quick ratio of 1.00. PowerFleet has a one year low of $3.70 and a one year high of $8.71.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Lake Street Capital set a $8.00 target price on PowerFleet and gave the company a "buy" rating in a report on Tuesday, May 27th. Wall Street Zen upgraded PowerFleet from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Barrington Research reaffirmed an "outperform" rating and set a $15.00 target price on shares of PowerFleet in a report on Monday. Finally, Raymond James Financial lowered their price target on PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.50.

Insider Activity at PowerFleet

In other PowerFleet news, CEO Steven Mark Towe bought 23,157 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was acquired at an average price of $4.42 per share, with a total value of $102,353.94. Following the completion of the transaction, the chief executive officer directly owned 2,457,923 shares in the company, valued at approximately $10,864,019.66. This represents a 0.95% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of PowerFleet

Hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC boosted its position in shares of PowerFleet by 39.4% in the second quarter. Squarepoint Ops LLC now owns 494,646 shares of the company's stock worth $2,132,000 after buying an additional 139,847 shares during the period. Qube Research & Technologies Ltd raised its holdings in PowerFleet by 269.9% during the second quarter. Qube Research & Technologies Ltd now owns 905,433 shares of the company's stock valued at $3,902,000 after buying an additional 660,643 shares in the last quarter. Jump Financial LLC bought a new position in PowerFleet during the second quarter valued at about $79,000. Invesco Ltd. raised its holdings in PowerFleet by 39.5% during the second quarter. Invesco Ltd. now owns 62,331 shares of the company's stock valued at $269,000 after buying an additional 17,658 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in PowerFleet during the second quarter valued at about $65,000. Institutional investors and hedge funds own 73.40% of the company's stock.

PowerFleet Company Profile

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.