MiX Telematics Gets a Buy Rating from William Blair

In a report issued on May 10, Bhavan Suri from William Blair maintained a Buy rating on MiX Telematics (NYSE: MIXT). The company’s shares closed on Friday at $19.47, close to its 52-week high of $19.65.

Suri observed:

“We maintain our Outperform rating and increased our fiscal 2019 revenue estimate to ZAR 1,833 from ZAR 1,820 million.”

According to TipRanks.com, Suri is a 5-star analyst with an average return of 22.2% and a 67.9% success rate. Suri covers the Technology sector, focusing on stocks such as Mulesoft Inc, Atlassian, and Talend SA.

Currently, the analyst consensus on MiX Telematics is Moderate Buy and the average price target is $23, representing a 18.1% upside.

In a report issued on May 10, Canaccord Genuity also reiterated a Buy rating on the stock with a $23 price target.

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The company has a one-year high of $19.65 and a one-year low of $5.59. Currently, MiX Telematics has an average volume of 110.4K.

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MiX Telematics Ltd. is global provider of fleet and mobile asset management solutions delivered as software as a service to customers which specializes in enterprise and small fleets. It provides hardware, accessories, applications and services. The company was founded by Stefan Joselowitz in 1996 and is headquartered in Midrand, South Africa.