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 $16.
Schwartz commented:
“MiX Telematics reported an excellent an increasing beat-and-raise magnitude too. The company enjoyed ~$15M of subscriptions revenue upside driven by a record quarter of big fleet deals (i.e., 22,000+ subs). Other business metrics improved, including 30.8% adj. EBITDA margin, 21% total revenue growth and 12% y/y growth in total subscribers. On balance, the total revenue growth likely peaked in F2Q as guidance implies a deceleration over the next several quarters, partially from tougher comparisons. Bottom Line: While our Perform rating is based on low investor sentiment, we believe the company is on an uptrend this fiscal year. Management is doing a good job operating the business and a strategy and model update in the December analyst meeting has the potential to improve awareness.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 25.3% and a 72.4% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Instructure Inc, and Salesforce.com.
MiX Telematics has an analyst consensus of Moderate Buy, with a price target consensus of $25.
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The company has a one-year high of $21 and a one-year low of $10.21. Currently, MiX Telematics has an average volume of 131.9K.
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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.
