In a report released today, Brian Schwartz from Oppenheimer maintained a Hold rating on MiX Telematics (NYSE: MIXT). The company’s shares opened today at $17.55.
Schwartz wrote:
“MiX Telematics’ improving business and execution trend continued in its F1Q with the reported results above consensus estimates, and a higher subscriptions revenue outlook. The business showed a good and balanced performance in its F1Q with 18% subscription revenue growth in constant currency and 28% EBITDA margin (+460bps y/y improvement). On balance, the subscription revenue growth may have peaked in F1Q as guidance implies a deceleration over the next several quarters, partially from tougher y/y comparisons. Mix Telematics business is on an uptrend. We think management is doing a very good job operating the business by showing consistent above the rule of 40 results (subscriptions growth + EBITDA margin) for the past four quarters, and guidance implies this positive operating profile should continue.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 27.4% and a 77.7% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Instructure Inc, and Salesforce.com.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MiX Telematics with a $22.50 average price target.
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MiX Telematics’ market cap is currently $395.1M and has a P/E ratio of 29.04. The company has a Price to Book ratio of 3.09.
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MiX Telematics Ltd. engages in the provision of fleet and mobile asset management solutions. It focuses on the following industries: fast moving consumer goods, utilities, security, construction, transport and distribution, emergency services, government, rental and leasing, mining, oil and gas, and public transport.
