Roth Mkm Initiates Coverage on Karooooo (NASDAQ:KARO)

Roth Mkm assumed coverage on shares of Karooooo (NASDAQ:KARO) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $62.00 price target on the stock. Roth Mkm’s price target would suggest a potential upside of 32.93% from the company’s previous close.

A number of other research analysts have also recently weighed in on KARO. Weiss Ratings raised Karooooo from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Wall Street Zen raised shares of Karooooo from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Karooooo Trading Up 0.6%

NASDAQ KARO opened at $46.64 on Tuesday. The stock’s fifty day moving average price is $47.34 and its 200-day moving average price is $48.48. Karooooo has a 12 month low of $35.88 and a 12 month high of $63.36. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.44 billion, a P/E ratio of 25.21 and a beta of 1.07.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $82.34 million during the quarter, compared to analyst estimates of $79.04 million. Karooooo had a net margin of 19.45% and a return on equity of 31.83%. Karooooo has set its FY 2026 guidance at 1.876-2.049 EPS. As a group, equities analysts forecast that Karooooo will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Karooooo

Institutional investors have recently modified their holdings of the business. Telemark Asset Management LLC purchased a new stake in shares of Karooooo during the second quarter worth about $11,028,000. Fiera Capital Corp acquired a new position in shares of Karooooo in the second quarter worth $5,878,000. Capricorn Fund Managers Ltd increased its position in shares of Karooooo by 39.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock valued at $10,833,000 after purchasing an additional 67,322 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Karooooo by 699.1% during the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after buying an additional 48,644 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in Karooooo by 115.4% during the third quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock worth $4,234,000 after buying an additional 39,709 shares during the period.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.