Karooooo (NASDAQ:KARO) Shares Gap Up – Still a Buy?

Shares of Karooooo Ltd. (NASDAQ:KARO) gapped up before the market opened on Monday . The stock had previously closed at $43.20, but opened at $45.10. Karooooo shares last traded at $44.18, with a volume of 3,965 shares trading hands.

Wall Street Analyst Weigh In

Separately, Raymond James reaffirmed an “outperform” rating and set a $51.00 price objective (up previously from $46.00) on shares of Karooooo in a research report on Thursday, January 16th.

Karooooo Stock Performance

The business has a 50-day moving average of $45.07 and a two-hundred day moving average of $43.23. The company has a market cap of $1.36 billion, a P/E ratio of 28.29 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24.

Karooooo (NASDAQ:KARO) last released its quarterly earnings results on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. On average, sell-side analysts predict that Karooooo Ltd. 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. New York State Common Retirement Fund purchased a new position in shares of Karooooo in the fourth quarter worth about $26,000. BNP Paribas Financial Markets purchased a new position in shares of Karooooo in the fourth quarter worth about $210,000. Lazard Asset Management LLC raised its stake in shares of Karooooo by 17.5% in the fourth quarter. Lazard Asset Management LLC now owns 4,961 shares of the company’s stock worth $223,000 after purchasing an additional 740 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Karooooo in the third quarter worth about $216,000. Finally, Northern Trust Corp purchased a new position in shares of Karooooo in the fourth quarter worth about $340,000.

Karooooo Company Profile

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.