PowerFleet, Inc. (NASDAQ:AIOT) Receives $10.50 Average Price Target from Brokerages

PowerFleet, Inc. (NASDAQ:AIOT) has earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.50.

AIOT has been the subject of a number of research analyst reports. Zacks Research upgraded shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and set a $15.00 target price on shares of PowerFleet in a research note on Friday, November 7th. William Blair reissued an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Finally, Wall Street Zen lowered PowerFleet from a “hold” rating to a “sell” rating in a report on Sunday, November 2nd.

Hedge Funds Weigh In On PowerFleet

Institutional investors have recently made changes to their positions in the business. Voss Capital LP grew its position in PowerFleet by 104.3% during the second quarter. Voss Capital LP now owns 5,559,491 shares of the company’s stock valued at $23,961,000 after buying an additional 2,838,900 shares during the period. Wasatch Advisors LP purchased a new position in shares of PowerFleet during the 2nd quarter worth $6,426,000. Pinnacle Associates Ltd. grew its position in shares of PowerFleet by 635.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,398,305 shares of the company’s stock valued at $7,327,000 after acquiring an additional 1,208,252 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of PowerFleet in the 1st quarter worth $6,387,000. Finally, CenterBook Partners LP raised its holdings in PowerFleet by 40.4% in the 2nd quarter. CenterBook Partners LP now owns 4,040,568 shares of the company’s stock worth $17,415,000 after purchasing an additional 1,162,742 shares during the period. Institutional investors own 73.40% of the company’s stock.

PowerFleet Stock Up 3.7%

AIOT stock opened at $4.45 on Tuesday. The stock has a market capitalization of $595.52 million, a P/E ratio of -14.83 and a beta of 1.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.07 and a quick ratio of 0.92. PowerFleet has a 1-year low of $3.70 and a 1-year high of $8.71. The business has a fifty day moving average price of $5.13 and a 200-day moving average price of $4.83.

PowerFleet (NASDAQ:AIOT) last released its quarterly earnings data on Monday, November 10th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $111.68 million during the quarter, compared to the consensus estimate of $105.51 million. PowerFleet had a negative return on equity of 8.56% and a negative net margin of 9.95%. PowerFleet has set its FY 2025 guidance at EPS. FY 2026 guidance at EPS. Equities analysts forecast that PowerFleet will post -0.32 earnings per share for the current fiscal year.

About PowerFleet

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.