Analysts Set PowerFleet, Inc. (NASDAQ:AIOT) Target Price at $10.50

PowerFleet, Inc. (NASDAQ:AIOT) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $10.50.

A number of research firms have recently issued reports on AIOT. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research note on Wednesday, October 8th. Barrington Research restated an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research note on Wednesday, November 26th. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. William Blair reissued an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Finally, Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th.

Hedge Funds Weigh In On PowerFleet

A number of institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new stake in PowerFleet during the third quarter valued at about $31,000. CWM LLC lifted its position in shares of PowerFleet by 784.9% during the 3rd quarter. CWM LLC now owns 6,203 shares of the company’s stock valued at $33,000 after buying an additional 5,502 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of PowerFleet by 100.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after acquiring an additional 5,904 shares during the period. Spire Wealth Management increased its holdings in PowerFleet by 39.6% in the 2nd quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock worth $55,000 after acquiring an additional 3,620 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in PowerFleet by 43.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock worth $55,000 after acquiring an additional 3,826 shares during the period. 73.40% of the stock is owned by institutional investors.

PowerFleet Stock Performance

Shares of AIOT stock opened at $5.18 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $5.05 and a 200-day moving average price of $4.80. PowerFleet has a 52 week low of $3.70 and a 52 week high of $8.71. The firm has a market capitalization of $693.19 million, a PE ratio of -16.71 and a beta of 1.35.

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

About PowerFleet

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.