PowerFleet, Inc. (NASDAQ:AIOT) Receives $10.50 Consensus Price Target from Analysts

Shares of PowerFleet, Inc. (NASDAQ:AIOT) have earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $10.50.

A number of brokerages have issued reports on AIOT. William Blair reissued an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a research report on Monday, January 5th. Finally, Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th.

PowerFleet Price Performance

Shares of AIOT opened at $5.51 on Wednesday. The business’s 50-day moving average is $5.11 and its two-hundred day moving average is $4.88. The company has a market capitalization of $737.35 million, a P/E ratio of -17.77 and a beta of 1.34. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 1.07. PowerFleet has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.

PowerFleet (NASDAQ:AIOT) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $111.68 million during the quarter, compared to analysts’ expectations of $105.51 million. PowerFleet had a negative return on equity of 9.00% and a negative net margin of 9.70%. Research analysts predict that PowerFleet will post -0.32 earnings per share for the current year.

Institutional Trading of PowerFleet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Corebridge Financial Inc. raised its stake in shares of PowerFleet by 4.3% during the 1st quarter. Corebridge Financial Inc. now owns 49,009 shares of the company’s stock worth $269,000 after buying an additional 2,036 shares during the period. Royal Bank of Canada raised its position in PowerFleet by 198.0% during the first quarter. Royal Bank of Canada now owns 91,365 shares of the company’s stock worth $501,000 after acquiring an additional 60,705 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PowerFleet by 275.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 203,211 shares of the company’s stock valued at $1,116,000 after purchasing an additional 149,116 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of PowerFleet in the first quarter valued at about $251,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of PowerFleet by 15.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,045,424 shares of the company’s stock worth $5,739,000 after purchasing an additional 138,856 shares in the last quarter. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

PowerFleet Company Profile

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.