Karooooo (NASDAQ:KARO) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Karooooo (NASDAQ:KARO) announced its quarterly earnings results on Thursday. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01), FiscalAI reports. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The business had revenue of $101.83 million for the quarter, compared to analyst estimates of $98.81 million.

Karooooo Stock Up 2.8%

Karooooo stock traded up $1.72 during midday trading on Monday, hitting $62.10. 73,757 shares of the company were exchanged, compared to its average volume of 79,659. The company has a market cap of $1.92 billion, a PE ratio of 31.52 and a beta of 0.89. Karooooo has a fifty-two week low of $41.25 and a fifty-two week high of $68.80. The company’s fifty day moving average price is $63.47 and its 200-day moving average price is $56.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01.

Insider Buying and Selling at Karooooo

In related news, CEO Isaias Calisto sold 33,833 shares of Karooooo stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $66.14, for a total transaction of $2,237,714.62. Following the sale, the chief executive officer owned 17,714,186 shares of the company’s stock, valued at $1,171,616,262.04. The trade was a 0.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 277,617 shares of company stock valued at $17,840,247 in the last ninety days. 74.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KARO has been the subject of several recent research reports. Raymond James Financial increased their price objective on shares of Karooooo from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. UBS Group restated a “buy” rating and set a $75.00 target price on shares of Karooooo in a report on Thursday, July 16th. Zacks Research cut shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Freedom Capital cut shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Roth Capital reiterated a “buy” rating and issued a $74.00 price target on shares of Karooooo in a report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.50.

About Karooooo

Karooooo Ltd. is a technology company that provides software-as-a-service solutions for connected vehicles, fleet management, and mobility operations. Through its Cartrack business, the company offers vehicle tracking, fleet monitoring, driver safety tools, asset management, and data analytics designed to help businesses improve productivity, security, and operational efficiency.

Cartrack’s platform collects and analyzes telematics data, providing customers with real-time visibility into vehicles and other mobile assets.