Analysts Offer Predictions for PowerFleet, Inc.’s Q2 2024 Earnings (NASDAQ:PWFL)

PowerFleet, Inc. (NASDAQ:PWFL) – Roth Capital raised their Q2 2024 earnings per share estimates for PowerFleet in a research report issued on Wednesday, May 1st. Roth Capital analyst S. Searle now forecasts that the company will post earnings of $0.03 per share for the quarter, up from their previous estimate of ($0.06). The consensus estimate for PowerFleet’s current full-year earnings is $0.12 per share. Roth Capital also issued estimates for PowerFleet’s Q3 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.08 EPS, FY2024 earnings at $0.12 EPS, Q1 2025 earnings at $0.10 EPS and FY2025 earnings at $0.55 EPS.

PowerFleet (NASDAQ:PWFL) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The company had revenue of $34.50 million for the quarter, compared to the consensus estimate of $33.23 million. PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.08%.

A number of other research analysts have also recently weighed in on PWFL. TheStreet upgraded shares of PowerFleet from a “d” rating to a “c-” rating in a research note on Thursday, March 14th. Canaccord Genuity Group upped their price objective on PowerFleet from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Lake Street Capital lifted their target price on PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Northland Securities initiated coverage on PowerFleet in a report on Monday, March 18th. They issued an “outperform” rating and a $7.00 price target on the stock. Finally, Barrington Research increased their price objective on shares of PowerFleet from $7.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.43.

PowerFleet Price Performance

Shares of NASDAQ:PWFL opened at $4.99 on Monday. The company has a market capitalization of $538.52 million, a P/E ratio of -16.10 and a beta of 1.75. PowerFleet has a 1-year low of $1.64 and a 1-year high of $5.67. The firm’s 50 day simple moving average is $4.14 and its two-hundred day simple moving average is $3.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.71 and a quick ratio of 1.28.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PWFL. Pinnacle Associates Ltd. bought a new stake in PowerFleet in the first quarter worth $1,377,000. Private Capital Management LLC lifted its holdings in shares of PowerFleet by 10.5% in the 4th quarter. Private Capital Management LLC now owns 5,778,189 shares of the company’s stock worth $19,761,000 after acquiring an additional 549,495 shares during the last quarter. Sierra Summit Advisors LLC purchased a new position in shares of PowerFleet during the 4th quarter worth about $121,000. Perritt Capital Management Inc. grew its holdings in PowerFleet by 4.7% during the 4th quarter. Perritt Capital Management Inc. now owns 304,188 shares of the company’s stock valued at $1,040,000 after purchasing an additional 13,700 shares during the last quarter. Finally, Symmetry Peak Management LLC purchased a new stake in PowerFleet in the 4th quarter worth about $479,000. Institutional investors own 73.40% of the company’s stock.

About PowerFleet

PowerFleet, Inc provides wireless Internet-of-Things (IoT) 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.