Brokers Issue Forecasts for PowerFleet, Inc.’s Q4 2024 Earnings (NASDAQ:PWFL)

PowerFleet, Inc. (NASDAQ:PWFL) – William Blair issued their Q4 2024 EPS estimates for shares of PowerFleet in a research note issued on Wednesday, May 1st. William Blair analyst D. Becker expects that the company will earn $0.01 per share for the quarter. William Blair has a “Outperform” rating on the stock. The consensus estimate for PowerFleet’s current full-year earnings is ($0.17) per share. William Blair also issued estimates for PowerFleet’s Q1 2025 earnings at $0.02 EPS.

PWFL has been the topic of a number of other research reports. Canaccord Genuity Group upped their target price on shares of PowerFleet from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Barrington Research increased their price objective on shares of PowerFleet from $7.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday. Northland Securities started coverage on PowerFleet in a research report on Monday, March 18th. They issued an “outperform” rating and a $7.00 target price on the stock. Craig Hallum initiated coverage on PowerFleet in a research report on Friday, March 15th. They set a “buy” rating and a $9.00 price target for the company. Finally, TheStreet upgraded PowerFleet from a “d” rating to a “c-” rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, PowerFleet has a consensus rating of “Moderate Buy” and an average target price of $8.43.

PowerFleet Stock Performance

Shares of PowerFleet stock opened at $4.99 on Friday. The firm has a market cap of $538.52 million, a PE ratio of -16.10 and a beta of 1.75. 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 has a 52 week low of $1.64 and a 52 week high of $5.67. The business’s fifty day simple moving average is $4.10 and its 200-day simple moving average is $3.15.

PowerFleet (NASDAQ:PWFL) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). PowerFleet had a negative return on equity of 6.08% and a negative net margin of 3.86%. The firm had revenue of $34.50 million for the quarter, compared to analyst estimates of $33.23 million.

Institutional Investors Weigh In On PowerFleet

Large investors have recently bought and sold shares of the stock. Worth Venture Partners LLC grew its position in shares of PowerFleet by 17.7% during the third quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock worth $64,000 after buying an additional 4,679 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of PowerFleet during the third quarter worth about $87,000. Victory Capital Management Inc. acquired a new position in shares of PowerFleet during the fourth quarter worth about $112,000. Sierra Summit Advisors LLC acquired a new position in shares of PowerFleet during the fourth quarter worth about $121,000. Finally, Potomac Capital Management Inc. grew its position in shares of PowerFleet by 36.7% during the third quarter. Potomac Capital Management Inc. now owns 216,571 shares of the company’s stock worth $448,000 after buying an additional 58,088 shares in the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

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.