Shares of Powerfleet, Inc. (NASDAQ:AIOT – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $4.66, but opened at $5.02. Powerfleet shares last traded at $5.33, with a volume of 575,879 shares changing hands.
Analysts Set New Price Targets
Separately, Barrington Research reaffirmed an “outperform” rating and set a $10.00 price target on shares of Powerfleet in a research note on Thursday, August 22nd.
Get Our Latest Stock Report on AIOT
Powerfleet Stock Performance
Powerfleet (NASDAQ:AIOT – Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.13). The company had revenue of $75.43 million during the quarter, compared to analysts’ expectations of $71.13 million. Powerfleet had a negative net margin of 3.86% and a negative return on equity of 6.61%. As a group, analysts expect that Powerfleet, Inc. will post -0.16 earnings per share for the current year.
About Powerfleet
PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.
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