Q2 2024 Earnings Forecast for PowerFleet, Inc. Issued By Roth Capital (NASDAQ:PWFL)

PowerFleet, Inc. (NASDAQ:PWFL) – Investment analysts at Roth Capital boosted their Q2 2024 earnings per share estimates for PowerFleet in a research note 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 previous estimate 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.

A number of other equities research analysts have also weighed in on the company. Raymond James restated an “outperform” rating and set a $7.00 price objective on shares of PowerFleet in a research note on Tuesday, April 2nd. Craig Hallum initiated coverage on shares of PowerFleet in a research report on Friday, March 15th. They set a “buy” rating and a $9.00 price target on the stock. Northland Securities began coverage on PowerFleet in a research note on Monday, March 18th. They set an “outperform” rating and a $7.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a report on Wednesday, May 1st. Finally, TheStreet upgraded shares of PowerFleet from a “d” rating to a “c-” rating in a report on Thursday, March 14th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.43.

PowerFleet Stock Down 1.7 %

NASDAQ PWFL opened at $5.12 on Monday. The business has a 50 day moving average price of $4.22 and a two-hundred day moving average price of $3.23. The stock has a market cap of $552.55 million, a PE ratio of -16.52 and a beta of 1.75. PowerFleet has a fifty-two week low of $1.64 and a fifty-two week high of $5.67. 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 (NASDAQ:PWFL) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The business had revenue of $34.50 million for the quarter, compared to analyst estimates of $33.23 million. PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.08%.

Hedge Funds Weigh In On PowerFleet

Hedge funds have recently bought and sold shares of the business. Worth Venture Partners LLC increased its holdings in shares of PowerFleet by 17.7% during the 3rd quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock valued at $64,000 after acquiring an additional 4,679 shares during the last quarter. SG Americas Securities LLC acquired a new position in PowerFleet during the first quarter valued at approximately $65,000. Kennedy Capital Management LLC bought a new position in shares of PowerFleet in the third quarter valued at approximately $87,000. Victory Capital Management Inc. acquired a new stake in shares of PowerFleet in the fourth quarter worth $112,000. Finally, Sierra Summit Advisors LLC bought a new stake in shares of PowerFleet during the 4th quarter worth $121,000. 73.40% of the stock is 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.