Q2 2024 EPS Estimates for PowerFleet, Inc. Lifted by Analyst (NASDAQ:PWFL)

PowerFleet, Inc. (NASDAQ:PWFL) – Equities research analysts at 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 anticipates that the company will earn $0.03 per share for the quarter, up from their prior forecast 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.

PWFL has been the subject of several other research reports. Craig Hallum began coverage on shares of PowerFleet in a research report on Friday, March 15th. They set a “buy” rating and a $9.00 price objective for the company. Northland Securities began coverage on shares of PowerFleet in a research note on Monday, March 18th. They issued an “outperform” rating and a $7.00 price target on the stock. Lake Street Capital raised their target price on shares of PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Barrington Research raised their target price on shares of PowerFleet from $7.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of PowerFleet in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.43.

PowerFleet Stock Performance

NASDAQ PWFL opened at $5.21 on Monday. The firm has a market cap of $562.26 million, a price-to-earnings ratio of -16.81 and a beta of 1.75. The business has a 50-day moving average price of $4.18 and a 200-day moving average price of $3.21. The company has a quick ratio of 1.28, a current ratio of 1.71 and a debt-to-equity ratio of 0.12. PowerFleet has a twelve month low of $1.64 and a twelve month high of $5.67.

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

Institutional Trading of PowerFleet

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Associates Ltd. purchased a new position in shares of PowerFleet during the 1st quarter valued at approximately $1,377,000. Private Capital Management LLC boosted its position in shares of PowerFleet by 10.5% during the 4th quarter. Private Capital Management LLC now owns 5,778,189 shares of the company’s stock valued at $19,761,000 after acquiring an additional 549,495 shares during the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of PowerFleet during the 4th quarter valued at about $121,000. Perritt Capital Management Inc. boosted its position in shares of 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 acquiring an additional 13,700 shares during the last quarter. Finally, Symmetry Peak Management LLC acquired a new position in shares of PowerFleet during the 4th quarter valued at about $479,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.