William Blair Reiterates “Outperform” Rating for PowerFleet (NASDAQ:PWFL)

PowerFleet (NASDAQ:PWFL)‘s stock had its “outperform” rating restated by research analysts at William Blair in a research note issued to investors on Wednesday, RTT News reports. William Blair also issued estimates for PowerFleet’s Q4 2024 earnings at $0.01 EPS, Q1 2025 earnings at $0.02 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.01 EPS, Q4 2025 earnings at $0.02 EPS and Q1 2026 earnings at $0.05 EPS.

PWFL has been the subject of a number of other reports. Raymond James restated an “outperform” rating and set a $7.00 price objective on shares of PowerFleet in a research note on Tuesday, April 2nd. TheStreet raised shares of PowerFleet from a “d” rating to a “c-” rating in a report on Thursday, March 14th. Lake Street Capital boosted their target price on shares of PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Barrington Research raised their price target on shares of PowerFleet from $7.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Canaccord Genuity Group lifted their price target on PowerFleet from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.43.

PowerFleet Stock Performance

Shares of PowerFleet stock traded down $0.02 during trading hours on Wednesday, reaching $4.99. The company’s stock had a trading volume of 904,984 shares, compared to its average volume of 585,513. PowerFleet has a one year low of $1.64 and a one year high of $5.67. The company’s 50 day simple moving average is $4.10 and its 200 day simple moving average is $3.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.28 and a current ratio of 1.71. The stock has a market cap of $538.52 million, a P/E ratio of -16.10 and a beta of 1.75.

PowerFleet (NASDAQ:PWFL) last issued its earnings results on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) 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 business had revenue of $34.50 million during the quarter, compared to the consensus estimate 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

Institutional investors have recently added to or reduced their stakes in the company. AWM Investment Company Inc. increased its position in shares of PowerFleet by 5.2% during the 3rd quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock valued at $6,158,000 after purchasing an additional 147,408 shares during the period. Potomac Capital Management Inc. grew its holdings in PowerFleet by 36.7% during the third quarter. Potomac Capital Management Inc. now owns 216,571 shares of the company’s stock worth $448,000 after acquiring an additional 58,088 shares during the period. Perritt Capital Management Inc. raised its position in PowerFleet by 22.5% in the third quarter. Perritt Capital Management Inc. now owns 290,488 shares of the company’s stock worth $601,000 after acquiring an additional 53,300 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in PowerFleet in the 3rd quarter valued at about $87,000. Finally, Worth Venture Partners LLC boosted its position in shares of PowerFleet by 17.7% during the 3rd quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock valued at $64,000 after purchasing an additional 4,679 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.