Karooooo Ltd. (NASDAQ:KARO) Stock Has Consensus Price Target of $73.50 According to Analysts

Shares of Karooooo Ltd. (NASDAQ:KARO) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $73.50.

KARO has been the subject of several recent research reports. Wall Street Zen upgraded Karooooo from a “hold” rating to a “buy” rating in a report on Monday, August 17th. Raymond James Financial raised their target price on shares of Karooooo from $60.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Zacks Research lowered shares of Karooooo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Roth Capital reaffirmed a “buy” rating and issued a $74.00 price target on shares of Karooooo in a research report on Friday, July 17th. Finally, Freedom Capital downgraded shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th.

Insiders Place Their Bets

In other Karooooo news, CEO Isaias Calisto sold 6,202 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $63.50, for a total transaction of $393,827.00. Following the sale, the chief executive officer owned 17,640,700 shares of the company’s stock, valued at approximately $1,120,184,450. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 277,617 shares of company stock worth $17,840,247 in the last ninety days. 74.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Karooooo

A number of institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in Karooooo in the second quarter valued at about $54,000. Allworth Financial LP purchased a new stake in shares of Karooooo during the second quarter valued at about $64,000. R Squared Ltd bought a new stake in shares of Karooooo in the 1st quarter valued at about $296,000. DGS Capital Management LLC boosted its holdings in shares of Karooooo by 83.5% in the 4th quarter. DGS Capital Management LLC now owns 6,961 shares of the company’s stock valued at $317,000 after buying an additional 3,168 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Karooooo by 9.5% in the 1st quarter. Bank of America Corp DE now owns 8,798 shares of the company’s stock worth $438,000 after buying an additional 764 shares during the last quarter.

Karooooo Stock Up 0.3%

Shares of NASDAQ:KARO opened at $61.08 on Friday. The business’s 50 day moving average is $63.81 and its 200 day moving average is $55.78. The stock has a market cap of $1.89 billion, a P/E ratio of 31.01 and a beta of 0.89. Karooooo has a 52-week low of $41.25 and a 52-week high of $68.80. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Karooooo (NASDAQ:KARO) last issued its earnings results on Thursday, July 16th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Karooooo had a return on equity of 32.03% and a net margin of 17.74%. The business had revenue of $96.26 million during the quarter. Sell-side analysts predict that Karooooo will post 2.41 EPS for the current year.

Karooooo Company Profile

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.