Karooooo (NASDAQ:KARO) Rating Increased to Buy at Wall Street Zen

Karooooo (NASDAQ:KARO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts have also commented on the stock. Zacks Research lowered shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 11th. UBS Group started coverage on shares of Karooooo in a research report on Friday, August 29th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Weiss Ratings started coverage on shares of Karooooo in a research report on Thursday, October 16th. They issued a “hold (c+)” rating for the company. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.25.

Karooooo Stock Performance

KARO opened at $47.13 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.46 billion, a PE ratio of 26.33 and a beta of 1.06. The business has a fifty day simple moving average of $47.29 and a 200-day simple moving average of $49.82. Karooooo has a fifty-two week low of $35.88 and a fifty-two week high of $63.36.

Karooooo (NASDAQ:KARO) last announced its earnings results on Tuesday, October 14th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. Karooooo had a return on equity of 31.64% and a net margin of 19.90%.The business had revenue of $76.16 million during the quarter, compared to the consensus estimate of $73.45 million. Karooooo has set its FY 2026 guidance at 1.830-2.000 EPS. As a group, equities analysts predict that Karooooo will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Karooooo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KARO. Telemark Asset Management LLC acquired a new stake in shares of Karooooo during the 2nd quarter valued at $11,028,000. Fiera Capital Corp acquired a new position in shares of Karooooo in the second quarter worth $5,878,000. Marshall Wace LLP raised its holdings in shares of Karooooo by 699.1% during the second quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after acquiring an additional 48,644 shares in the last quarter. Two Sigma Investments LP boosted its position in Karooooo by 115.4% during the third quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock valued at $4,234,000 after purchasing an additional 39,709 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Karooooo during the second quarter valued at $1,378,000.

About Karooooo

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.