Analysts Set PowerFleet, Inc. (NASDAQ:AIOT) Price Target at $10.33

PowerFleet, Inc. (NASDAQ:AIOT) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $10.3333.

A number of analysts have commented on AIOT shares. Barrington Research reiterated an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a research report on Friday, February 6th. Weiss Ratings upgraded PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new position in shares of PowerFleet in the 3rd quarter worth approximately $31,000. Hurley Capital LLC bought a new position in shares of PowerFleet during the 4th quarter worth approximately $32,000. CWM LLC boosted its stake in PowerFleet by 784.9% in the 3rd quarter. CWM LLC now owns 6,203 shares of the company’s stock valued at $33,000 after buying an additional 5,502 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in PowerFleet in the 4th quarter valued at $48,000. Finally, BNP Paribas Financial Markets grew its position in PowerFleet by 100.9% in the second quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after acquiring an additional 5,904 shares during the period. Institutional investors own 73.40% of the company’s stock.

PowerFleet Price Performance

NASDAQ AIOT opened at $3.05 on Monday. The stock has a 50-day simple moving average of $4.07 and a 200 day simple moving average of $4.80. PowerFleet has a twelve month low of $2.78 and a twelve month high of $6.38. The stock has a market capitalization of $409.16 million, a PE ratio of -13.26 and a beta of 1.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.09.

PowerFleet (NASDAQ:AIOT) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%.The company had revenue of $113.49 million during the quarter, compared to analyst estimates of $111.69 million. Research analysts anticipate that PowerFleet will post -0.32 EPS for the current year.

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.