Karooooo (NASDAQ:KARO) Issues Quarterly Earnings Results

Karooooo (NASDAQ:KARO) issued its quarterly earnings results on Monday. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01), FiscalAI reports. The firm had revenue of $101.83 million for the quarter, compared to the consensus estimate of $98.81 million. Karooooo had a return on equity of 32.03% and a net margin of 17.74%.

Karooooo Trading Up 2.8%

KARO stock traded up $1.72 during trading on Monday, hitting $62.10. 72,804 shares of the company traded hands, compared to its average volume of 79,654. The firm has a market capitalization of $1.92 billion, a PE ratio of 31.52 and a beta of 0.89. Karooooo has a 1 year low of $41.25 and a 1 year high of $68.80. The company has a 50-day moving average of $63.47 and a 200-day moving average of $56.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.02.

Insider Transactions at Karooooo

In other Karooooo news, CEO Isaias Calisto sold 33,833 shares of Karooooo stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $66.14, for a total value of $2,237,714.62. Following the transaction, the chief executive officer directly owned 17,714,186 shares of the company’s stock, valued at $1,171,616,262.04. The trade was a 0.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 277,617 shares of company stock worth $17,840,247. 74.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on KARO shares. Zacks Research lowered Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. UBS Group reissued a “buy” rating and set a $75.00 price target on shares of Karooooo in a research note on Thursday, July 16th. Freedom Capital downgraded shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Raymond James Financial boosted their price objective on shares of Karooooo from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, Needham & Company LLC upped their price objective on shares of Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.50.

About Karooooo

Karooooo Ltd. is a technology company that provides software-as-a-service solutions for connected vehicles, fleet management, and mobility operations. Through its Cartrack business, the company offers vehicle tracking, fleet monitoring, driver safety tools, asset management, and data analytics designed to help businesses improve productivity, security, and operational efficiency.

Cartrack’s platform collects and analyzes telematics data, providing customers with real-time visibility into vehicles and other mobile assets.