Powerfleet (NASDAQ:AIOT) Trading 5.6% Higher Following Analyst Upgrade

Powerfleet, Inc. (NASDAQ:AIOT)’s stock price rose 5.6% during mid-day trading on Friday after Barrington Research raised their price target on the stock from $10.00 to $15.00. Barrington Research currently has an outperform rating on the stock. Powerfleet traded as high as $7.23 and last traded at $7.01. Approximately 1,198,983 shares changed hands during trading, an increase of 37% from the average daily volume of 874,178 shares. The stock had previously closed at $6.64.

A number of other equities analysts also recently issued reports on AIOT. William Blair reaffirmed an “outperform” rating on shares of Powerfleet in a report on Thursday. Northland Securities upped their target price on shares of Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Friday.

Powerfleet Stock Up 7.1 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.71 and a quick ratio of 1.51. The firm’s 50 day moving average is $5.34.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $77.02 million during the quarter, compared to analysts’ expectations of $74.54 million. During the same period last year, the firm earned ($0.14) EPS. As a group, equities research analysts predict that Powerfleet, Inc. will post -0.14 earnings per share for the current fiscal year.

Powerfleet Company Profile

PowerFleet, Inc provides wireless Internet-of-Things 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.