PowerFleet, Inc. (NASDAQ:PWFL) Receives $8.30 Consensus PT from Brokerages

PowerFleet, Inc. (NASDAQ:PWFL) has been given a consensus recommendation of “Buy” by the eight analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.30.

A number of brokerages have recently weighed in on PWFL. Zacks Investment Research upgraded PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, November 14th. Roth Capital increased their target price on PowerFleet from $8.25 to $8.50 and gave the stock a “buy” rating in a research note on Monday, November 9th. Finally, TheStreet upgraded PowerFleet from a “d+” rating to a “c-” rating in a research note on Tuesday, October 13th.

NASDAQ:PWFL opened at $7.43 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.72 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $7.09 and its two-hundred day moving average price is $5.90. The firm has a market capitalization of $231.08 million, a price-to-earnings ratio of -12.59 and a beta of 1.78. PowerFleet has a 12-month low of $2.55 and a 12-month high of $8.50.

PowerFleet (NASDAQ:PWFL) last released its quarterly earnings data on Monday, November 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $27.60 million for the quarter, compared to analyst estimates of $26.69 million. PowerFleet had a negative return on equity of 4.42% and a negative net margin of 11.27%. Equities research analysts expect that PowerFleet will post -0.39 EPS for the current year.

A number of institutional investors have recently bought and sold shares of PWFL. UBS Group AG boosted its holdings in shares of PowerFleet by 322.9% in the 2nd quarter. UBS Group AG now owns 8,974 shares of the company’s stock valued at $41,000 after purchasing an additional 6,852 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of PowerFleet in the 2nd quarter valued at $116,000. Bank of New York Mellon Corp boosted its holdings in shares of PowerFleet by 554.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 83,623 shares of the company’s stock valued at $387,000 after purchasing an additional 70,852 shares in the last quarter. American International Group Inc. acquired a new stake in shares of PowerFleet in the 2nd quarter valued at $77,000. Finally, Perritt Capital Management Inc. boosted its holdings in shares of PowerFleet by 22.9% in the 2nd quarter. Perritt Capital Management Inc. now owns 53,600 shares of the company’s stock valued at $248,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

PowerFleet Company Profile

PowerFleet, Inc develops, markets, and sells wireless Internet-of-Things and machine-to-machine solutions in the United States, Israel, and internationally. The company offers industrial solutions, such as on-premise or in-facility asset and operator management, monitoring, and visibility for industrial trucks, such as forklifts and ground support equipment at airports.

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Analyst Recommendations for PowerFleet (NASDAQ:PWFL)

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