PowerFleet, Inc. (NASDAQ:PWFL) Receives Consensus Rating of “Buy” from Analysts

PowerFleet, Inc. (NASDAQ:PWFL) has received a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $8.00.

A number of equities analysts have weighed in on the company. Craig Hallum assumed coverage on PowerFleet in a research report on Friday, March 15th. They set a “buy” rating and a $9.00 price target for the company. Northland Securities assumed coverage on PowerFleet in a report on Monday, March 18th. They issued an “outperform” rating and a $7.00 price objective for the company. TheStreet raised PowerFleet from a “d” rating to a “c-” rating in a report on Thursday, March 14th. Raymond James reissued an “outperform” rating and issued a $7.00 price objective on shares of PowerFleet in a report on Tuesday, April 2nd. Finally, Lake Street Capital increased their price objective on PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, March 13th.

PowerFleet Trading Up 1.0 %

NASDAQ:PWFL opened at $4.23 on Tuesday. PowerFleet has a twelve month low of $1.64 and a twelve month high of $5.67. The company has a quick ratio of 1.28, a current ratio of 1.71 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $3.77 and a two-hundred day moving average price of $2.95. The company has a market cap of $456.50 million, a P/E ratio of -13.64 and a beta of 1.72.

PowerFleet (NASDAQ:PWFL) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). PowerFleet had a negative return on equity of 6.08% and a negative net margin of 3.86%. The firm had revenue of $34.50 million for the quarter, compared to analyst estimates of $33.23 million. As a group, analysts expect that PowerFleet will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On PowerFleet

Several hedge funds have recently added to or reduced their stakes in PWFL. Dimensional Fund Advisors LP lifted its holdings in PowerFleet by 23.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 247,548 shares of the company’s stock valued at $735,000 after purchasing an additional 47,644 shares during the last quarter. Vanguard Group Inc. lifted its holdings in PowerFleet by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 1,577,760 shares of the company’s stock valued at $4,686,000 after purchasing an additional 43,027 shares during the last quarter. Engineers Gate Manager LP bought a new position in PowerFleet during the 1st quarter worth $39,000. State Street Corp increased its position in PowerFleet by 5.1% during the 1st quarter. State Street Corp now owns 121,623 shares of the company’s stock worth $361,000 after buying an additional 5,873 shares during the period. Finally, Penn Capital Management Company LLC bought a new position in PowerFleet during the 1st quarter worth $715,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

PowerFleet Company Profile

PowerFleet, Inc provides wireless Internet-of-Things (IoT) asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.