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

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

Several other brokerages have also weighed in on AIOT. William Blair reiterated an “outperform” rating on shares of Powerfleet in a report on Thursday. Northland Securities raised their price target on shares of Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Friday.

Powerfleet Stock Performance

Shares of NASDAQ:AIOT traded up $0.42 on Friday, reaching $7.06. 1,607,939 shares of the company were exchanged, compared to its average volume of 876,825. The company has a quick ratio of 1.51, a current ratio of 1.71 and a debt-to-equity ratio of 0.25. Powerfleet has a 1-year low of $2.22 and a 1-year high of $7.23. The stock’s 50-day simple moving average is $5.30.

Powerfleet (NASDAQ:AIOT) last issued 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 company had revenue of $77.02 million for the quarter, compared to analysts’ expectations of $74.54 million. During the same quarter last year, the firm posted ($0.14) earnings per share. Analysts expect that Powerfleet will post -0.13 earnings per share 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.