Roth Capital Brokers Lift Earnings Estimates for PowerFleet, Inc. (NASDAQ:PWFL)

PowerFleet, Inc. (NASDAQ:PWFL) – Equities research analysts at Roth Capital increased their Q2 2024 earnings per share estimates for shares of PowerFleet in a report issued on Wednesday, May 1st. Roth Capital analyst S. Searle now expects that the company will earn $0.03 per share for the quarter, up from their previous estimate of ($0.06). The consensus estimate for PowerFleet’s current full-year earnings is $0.12 per share. Roth Capital also issued estimates for PowerFleet’s Q3 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.08 EPS, FY2024 earnings at $0.12 EPS, Q1 2025 earnings at $0.10 EPS and FY2025 earnings at $0.55 EPS.

PowerFleet (NASDAQ:PWFL) last posted 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 return on equity of 6.08% and a negative net margin of 3.86%.

Several other research analysts also recently commented on PWFL. TheStreet upgraded PowerFleet from a “d” rating to a “c-” rating in a research note on Thursday, March 14th. Craig Hallum began coverage on PowerFleet in a report on Friday, March 15th. They set a “buy” rating and a $9.00 price objective on the stock. Barrington Research lifted their price target on PowerFleet from $7.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a research note on Wednesday, May 1st. Finally, Raymond James restated an “outperform” rating and set a $7.00 target price on shares of PowerFleet in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.43.

PowerFleet Stock Up 4.4 %

Shares of NASDAQ PWFL opened at $5.21 on Monday. PowerFleet has a 52 week low of $1.64 and a 52 week high of $5.67. The business has a 50-day simple moving average of $4.18 and a two-hundred day simple moving average of $3.21. The company has a quick ratio of 1.28, a current ratio of 1.71 and a debt-to-equity ratio of 0.12. The company has a market cap of $562.26 million, a P/E ratio of -16.81 and a beta of 1.75.

Institutional Trading of PowerFleet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Capital Management LLC boosted its holdings in PowerFleet by 10.5% in the fourth quarter. Private Capital Management LLC now owns 5,778,189 shares of the company’s stock worth $19,761,000 after acquiring an additional 549,495 shares in the last quarter. AWM Investment Company Inc. grew its position in shares of PowerFleet by 5.2% during the third quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock worth $6,158,000 after purchasing an additional 147,408 shares in the last quarter. Perritt Capital Management Inc. grew its position in shares of PowerFleet by 4.7% during 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 in the last quarter. Equitable Trust Co. grew its position in shares of PowerFleet by 35.1% during the fourth quarter. Equitable Trust Co. now owns 269,992 shares of the company’s stock worth $923,000 after purchasing an additional 70,198 shares in the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in PowerFleet during the first quarter valued at approximately $1,377,000. 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.