PowerFleet (NASDAQ:AIOT) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

PowerFleet (NASDAQ:AIOT) announced its quarterly earnings data on Monday. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06, FiscalAI reports. The firm had revenue of $115.72 million for the quarter, compared to analyst estimates of $114.92 million. PowerFleet had a negative net margin of 4.16% and a positive return on equity of 0.48%.

PowerFleet Stock Performance

Shares of AIOT stock opened at $2.69 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. PowerFleet has a twelve month low of $2.29 and a twelve month high of $5.88. The company’s 50-day moving average price is $2.80 and its 200-day moving average price is $3.47. The stock has a market cap of $361.08 million, a price-to-earnings ratio of -19.21 and a beta of 1.42.

Analyst Ratings Changes

A number of research analysts have issued reports on AIOT shares. Barrington Research set a $10.00 price target on PowerFleet in a report on Monday, August 10th. Craig Hallum reduced their target price on PowerFleet from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Raymond James Financial downgraded PowerFleet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of PowerFleet in a research note on Friday, September 11th. Finally, Northland Securities set a $7.00 price target on shares of PowerFleet in a research note on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.40.

About PowerFleet

Powerfleet, Inc provides connected-vehicle and asset-management solutions designed to help organizations monitor, manage and optimize mobile assets. Its platform combines Internet of Things (IoT) connectivity, telematics, location tracking and analytics to deliver visibility into vehicles, equipment, cargo and other assets.

The company’s products and services support fleet management, driver safety, vehicle and equipment utilization, maintenance, logistics and supply-chain operations. Powerfleet serves a range of industries, including transportation, logistics, commercial fleets, rental and leasing, construction, manufacturing and other organizations that rely on mobile assets.

Powerfleet has expanded its capabilities through acquisitions and business combinations, including its 2019 acquisition of Pointer Telocation and its 2024 combination with MiX Telematics.