PowerFleet, Inc. (NASDAQ:PWFL) Receives $8.43 Consensus PT from Analysts

Shares of PowerFleet, Inc. (NASDAQ:PWFL) have earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.43.

A number of research analysts recently weighed in on PWFL shares. Raymond James reissued an “outperform” rating and set a $7.00 target price on shares of PowerFleet in a report on Tuesday, April 2nd. TheStreet upgraded shares of PowerFleet from a “d” rating to a “c-” rating in a research note on Thursday, March 14th. Barrington Research lifted their target price on shares of PowerFleet from $7.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. William Blair reissued an “outperform” rating on shares of PowerFleet in a report on Wednesday, May 1st. Finally, Lake Street Capital boosted their price objective on PowerFleet from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th.

PowerFleet Price Performance

Shares of PWFL stock opened at $4.77 on Wednesday. The company has a fifty day moving average price of $4.88 and a two-hundred day moving average price of $3.70. PowerFleet has a one year low of $1.64 and a one year high of $5.67. The stock has a market cap of $512.06 million, a P/E ratio of -15.39 and a beta of 1.75.

PowerFleet (NASDAQ:PWFL) last issued its earnings results on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.61%. The firm had revenue of $34.50 million during the quarter, compared to analyst estimates of $33.23 million. As a group, equities research analysts anticipate that PowerFleet will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On PowerFleet

A number of hedge funds have recently added to or reduced their stakes in PWFL. SG Americas Securities LLC bought a new stake in shares of PowerFleet during the 1st quarter valued at $65,000. Worth Venture Partners LLC grew its stake in PowerFleet by 17.7% during the third quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock worth $64,000 after buying an additional 4,679 shares in the last quarter. Victory Capital Management Inc. bought a new position in PowerFleet in the 4th quarter valued at about $112,000. Black Maple Capital Management LP acquired a new position in shares of PowerFleet in the 1st quarter valued at approximately $185,000. Finally, Sierra Summit Advisors LLC bought a new stake in shares of PowerFleet during the 4th quarter worth approximately $121,000. Institutional investors own 73.40% of the company’s stock.

PowerFleet Company Profile

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.