Karooooo Ltd. (NASDAQ:KARO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Karooooo Ltd. (NASDAQ:KARO) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $59.00.

Several brokerages recently weighed in on KARO. Wall Street Zen raised Karooooo from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Roth Mkm began coverage on Karooooo in a research note on Tuesday, February 17th. They set a “buy” rating and a $62.00 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Karooooo in a research note on Friday, April 24th.

Institutional Investors Weigh In On Karooooo

Several hedge funds have recently modified their holdings of KARO. Jones Financial Companies Lllp lifted its holdings in shares of Karooooo by 159.4% during the third quarter. Jones Financial Companies Lllp now owns 804 shares of the company’s stock valued at $46,000 after purchasing an additional 494 shares during the last quarter. Murphy & Mullick Capital Management Corp lifted its holdings in shares of Karooooo by 260.0% during the third quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company’s stock valued at $51,000 after purchasing an additional 650 shares during the last quarter. Fideuram Asset Management Ireland dac purchased a new stake in shares of Karooooo during the fourth quarter valued at $80,000. Royal Bank of Canada lifted its holdings in shares of Karooooo by 852.9% during the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock valued at $135,000 after purchasing an additional 2,644 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Karooooo during the second quarter valued at $156,000.

Karooooo Stock Performance

Shares of KARO stock opened at $50.20 on Wednesday. The stock has a 50-day simple moving average of $48.78 and a 200 day simple moving average of $47.12. Karooooo has a fifty-two week low of $41.25 and a fifty-two week high of $63.36. The stock has a market capitalization of $1.55 billion, a P/E ratio of 27.14 and a beta of 0.92. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.