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

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

A number of analysts have weighed in on AIOT shares. William Blair reiterated an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Zacks Research upgraded PowerFleet from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Barrington Research restated an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, January 21st.

Institutional Investors Weigh In On PowerFleet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in shares of PowerFleet during the 3rd quarter worth about $31,000. CWM LLC raised its stake in PowerFleet by 784.9% during the 3rd quarter. CWM LLC now owns 6,203 shares of the company’s stock worth $33,000 after buying an additional 5,502 shares during the period. MGO One Seven LLC bought a new position in PowerFleet in the fourth quarter worth approximately $55,000. Krilogy Financial LLC acquired a new stake in PowerFleet in the fourth quarter valued at approximately $58,000. Finally, Brookwood Investment Group LLC acquired a new stake in PowerFleet in the third quarter valued at approximately $59,000. 73.40% of the stock is owned by institutional investors.

PowerFleet Price Performance

Shares of NASDAQ:AIOT opened at $4.94 on Friday. The firm has a market cap of $661.07 million, a PE ratio of -15.93 and a beta of 1.33. The firm’s fifty day moving average is $5.32 and its 200-day moving average is $5.01. 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 52 week low of $3.70 and a 52 week high of $8.71.

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

About PowerFleet

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.