Brokers Issue Forecasts for PowerFleet, Inc.’s Q4 2024 Earnings (NASDAQ:PWFL)

PowerFleet, Inc. (NASDAQ:PWFL) – Investment analysts at William Blair issued their Q4 2024 earnings per share (EPS) estimates for shares of PowerFleet in a report issued on Wednesday, May 1st. William Blair analyst D. Becker expects that the company will earn $0.01 per share for the quarter. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for PowerFleet’s current full-year earnings is ($0.17) per share. William Blair also issued estimates for PowerFleet’s Q1 2025 earnings at $0.02 EPS.

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 the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $34.50 million for the quarter, compared to the consensus estimate of $33.23 million. PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.08%.

Several other equities analysts also recently weighed in on the company. Craig Hallum began coverage on PowerFleet in a research report on Friday, March 15th. They set a “buy” rating and a $9.00 target price on the stock. Raymond James reiterated an “outperform” rating and set a $7.00 target price on shares of PowerFleet in a research report on Tuesday, April 2nd. TheStreet upgraded PowerFleet from a “d” rating to a “c-” rating in a research report on Thursday, March 14th. Northland Securities began coverage on PowerFleet in a research report on Monday, March 18th. They set an “outperform” rating and a $7.00 target price on the stock. Finally, Lake Street Capital lifted their target price on PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.43.

PowerFleet Price Performance

Shares of PowerFleet stock opened at $4.99 on Friday. The stock has a market cap of $538.52 million, a P/E ratio of -16.10 and a beta of 1.75. 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’s fifty day moving average is $4.10 and its 200 day moving average is $3.15. PowerFleet has a one year low of $1.64 and a one year high of $5.67.

Hedge Funds Weigh In On PowerFleet

Several large investors have recently made changes to their positions in the business. Worth Venture Partners LLC lifted its position in shares of PowerFleet by 17.7% in the third quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock valued at $64,000 after acquiring an additional 4,679 shares in the last quarter. Perritt Capital Management Inc. increased its holdings in shares of PowerFleet by 4.7% in the fourth quarter. Perritt Capital Management Inc. now owns 304,188 shares of the company’s stock worth $1,040,000 after purchasing an additional 13,700 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of PowerFleet in the fourth quarter worth about $112,000. Sierra Summit Advisors LLC bought a new stake in shares of PowerFleet in the fourth quarter worth about $121,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of PowerFleet in the third quarter worth about $87,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

About PowerFleet

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.