PowerFleet (NASDAQ:PWFL) Price Target Increased to $10.00 by Analysts at Barrington Research

PowerFleet (NASDAQ:PWFL) had its target price hoisted by Barrington Research from $7.00 to $10.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group upped their price objective on shares of PowerFleet from $6.00 to $10.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Craig Hallum assumed coverage on shares of PowerFleet in a report on Friday, March 15th. They issued a buy rating and a $9.00 target price for the company. TheStreet upgraded shares of PowerFleet from a d rating to a c- rating in a report on Thursday, March 14th. Raymond James reiterated an outperform rating and issued a $7.00 target price on shares of PowerFleet in a report on Tuesday, April 2nd. Finally, Northland Securities assumed coverage on shares of PowerFleet in a report on Monday, March 18th. They issued an outperform rating and a $7.00 target price for the company. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $8.43.

PowerFleet Stock Performance

PWFL opened at $4.79 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.28 and a debt-to-equity ratio of 0.12. The company’s fifty day moving average price is $4.02 and its two-hundred day moving average price is $3.12. PowerFleet has a 1-year low of $1.64 and a 1-year high of $5.67. The company has a market cap of $516.94 million, a price-to-earnings ratio of -15.45 and a beta of 1.72.

PowerFleet (NASDAQ:PWFL) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). PowerFleet had a negative return on equity of 6.08% and a negative net margin of 3.86%. The business had revenue of $34.50 million for the quarter, compared to analyst estimates of $33.23 million. On average, analysts expect that PowerFleet will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On PowerFleet

Several institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. bought a new position in PowerFleet during the first quarter valued at about $1,377,000. Private Capital Management LLC grew its position in PowerFleet by 10.5% during the fourth quarter. Private Capital Management LLC now owns 5,778,189 shares of the company’s stock valued at $19,761,000 after buying an additional 549,495 shares during the period. Sierra Summit Advisors LLC bought a new position in PowerFleet during the fourth quarter valued at about $121,000. Perritt Capital Management Inc. grew its position in PowerFleet by 4.7% during the fourth quarter. Perritt Capital Management Inc. now owns 304,188 shares of the company’s stock valued at $1,040,000 after buying an additional 13,700 shares during the period. Finally, Symmetry Peak Management LLC bought a new position in PowerFleet during the fourth 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.