Barrington Research Forecasts Strong Price Appreciation for Powerfleet (NASDAQ:AIOT) Stock

Powerfleet (NASDAQ:AIOT) had its price target upped by stock analysts at Barrington Research from $10.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s target price would indicate a potential upside of 112.46% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Northland Securities raised their target price on Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday. William Blair reiterated an “outperform” rating on shares of Powerfleet in a research note on Thursday.

Powerfleet Stock Performance

Powerfleet stock traded up $0.42 during mid-day trading on Friday, reaching $7.06. The company’s stock had a trading volume of 1,607,939 shares, compared to its average volume of 876,825. The firm’s 50 day moving average is $5.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.71 and a quick ratio of 1.51. Powerfleet has a twelve month low of $2.22 and a twelve month high of $7.23.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $77.02 million for the quarter, compared to analysts’ expectations of $74.54 million. During the same period in the previous year, the company posted ($0.14) earnings per share. Research analysts expect that Powerfleet will post -0.13 earnings per share for the current 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.