Karooooo (NASDAQ:KARO) Raised to Buy at Wall Street Zen

Karooooo (NASDAQ:KARO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

KARO has been the subject of several other research reports. UBS Group assumed coverage on shares of Karooooo in a research report on Friday, August 29th. They set a “buy” rating and a $60.00 price target for the company. Weiss Ratings started coverage on Karooooo in a report on Thursday, October 16th. They set a “hold (c+)” rating on the stock. Finally, Zacks Research lowered Karooooo from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Karooooo currently has an average rating of “Moderate Buy” and an average price target of $58.25.

Karooooo Stock Up 6.0%

Shares of Karooooo stock opened at $47.13 on Friday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 26.33 and a beta of 1.06. Karooooo has a twelve month low of $35.88 and a twelve month high of $63.36. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $47.29 and its 200-day simple moving average is $49.82.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Karooooo had a return on equity of 31.64% and a net margin of 19.90%.The firm had revenue of $76.16 million during the quarter, compared to the consensus estimate of $73.45 million. Karooooo has set its FY 2026 guidance at 1.830-2.000 EPS. Equities research analysts forecast that Karooooo will post 1.57 earnings per share for the current year.

Hedge Funds Weigh In On Karooooo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KARO. Telemark Asset Management LLC bought a new stake in shares of Karooooo in the 2nd quarter worth $11,028,000. Capricorn Fund Managers Ltd raised its position in Karooooo by 10.3% in the third quarter. Capricorn Fund Managers Ltd now owns 170,756 shares of the company’s stock worth $9,754,000 after acquiring an additional 16,000 shares in the last quarter. Fiera Capital Corp acquired a new stake in Karooooo in the 2nd quarter valued at about $5,878,000. Two Sigma Investments LP boosted its position in shares of Karooooo by 115.4% during the 3rd quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock valued at $4,234,000 after purchasing an additional 39,709 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Karooooo by 50.1% in the 2nd quarter. Acadian Asset Management LLC now owns 69,705 shares of the company’s stock worth $3,391,000 after purchasing an additional 23,251 shares during the last quarter.

About Karooooo

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.