PowerFleet (NASDAQ:PWFL) Earns Outperform Rating from William Blair

William Blair reissued their outperform rating on shares of PowerFleet (NASDAQ:PWFL) in a research report released on Wednesday morning, RTT News reports. William Blair also issued estimates for PowerFleet’s Q4 2024 earnings at $0.01 EPS, Q1 2025 earnings at $0.02 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.01 EPS, Q4 2025 earnings at $0.02 EPS and Q1 2026 earnings at $0.05 EPS.

A number of other brokerages have also recently issued reports on PWFL. Barrington Research upped their target price on PowerFleet from $7.00 to $10.00 and gave the company an outperform rating in a research report on Tuesday. Canaccord Genuity Group raised their target price on shares of PowerFleet from $6.00 to $10.00 and gave the stock a buy rating in a research report on Wednesday, March 13th. Northland Securities started coverage on shares of PowerFleet in a research report on Monday, March 18th. They issued an outperform rating and a $7.00 price target for the company. Craig Hallum assumed coverage on shares of PowerFleet in a research report on Friday, March 15th. They set a buy rating and a $9.00 price objective on the stock. Finally, Raymond James restated an outperform rating and issued a $7.00 price objective on shares of PowerFleet in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PowerFleet has an average rating of Moderate Buy and an average price target of $8.43.

PowerFleet Stock Performance

Shares of PWFL opened at $4.99 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.71 and a debt-to-equity ratio of 0.12. PowerFleet has a 52-week low of $1.64 and a 52-week high of $5.67. The stock has a 50 day moving average price of $4.10 and a 200 day moving average price of $3.15. The company has a market capitalization of $538.52 million, a price-to-earnings ratio of -16.10 and a beta of 1.75.

PowerFleet (NASDAQ:PWFL) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). PowerFleet had a negative return on equity of 6.08% and a negative net margin of 3.86%. The company had revenue of $34.50 million for the quarter, compared to analyst estimates of $33.23 million. Research analysts predict that PowerFleet will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On PowerFleet

A number of institutional investors have recently added to or reduced their stakes in PWFL. AWM Investment Company Inc. lifted its holdings in shares of PowerFleet by 5.2% in the 3rd quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock valued at $6,158,000 after buying an additional 147,408 shares during the period. Potomac Capital Management Inc. boosted its position in shares of PowerFleet by 36.7% during the 3rd quarter. Potomac Capital Management Inc. now owns 216,571 shares of the company’s stock worth $448,000 after purchasing an additional 58,088 shares in the last quarter. Perritt Capital Management Inc. grew its stake in shares of PowerFleet by 22.5% during the 3rd quarter. Perritt Capital Management Inc. now owns 290,488 shares of the company’s stock worth $601,000 after purchasing an additional 53,300 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of PowerFleet in the 3rd quarter valued at about $87,000. Finally, Worth Venture Partners LLC lifted its stake 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 purchasing an additional 4,679 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

PowerFleet Company Profile

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.