Barrington Research Reiterates Outperform Rating for Powerfleet (NASDAQ:AIOT)

Powerfleet (NASDAQ:AIOT)‘s stock had its “outperform” rating restated by equities research analysts at Barrington Research in a note issued to investors on Thursday, Benzinga reports. They currently have a $10.00 target price on the stock. Barrington Research’s price objective points to a potential upside of 99.60% from the company’s current price.

Powerfleet Price Performance

NASDAQ AIOT opened at $5.01 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.23 and a debt-to-equity ratio of 0.29. Powerfleet has a 1-year low of $1.64 and a 1-year high of $5.67. The firm has a market cap of $537.82 million, a price-to-earnings ratio of -16.16 and a beta of 1.68. The company has a 50-day moving average price of $4.78.

Powerfleet (NASDAQ:AIOT) last announced its quarterly earnings results on Thursday, August 22nd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.13). Powerfleet had a negative net margin of 3.86% and a negative return on equity of 6.61%. The business had revenue of $75.43 million for the quarter, compared to analyst estimates of $71.13 million. On average, equities research analysts expect that Powerfleet will post -0.16 EPS for the current fiscal year.

Powerfleet Company Profile

PowerFleet, Inc provides wireless Internet-of-Things 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.