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 $17.33, close to its 52-week high of $18.84.
Schwartz wrote:
“MiX Telematics reported solid results in its F4Q. The business results showed a balanced performance with 19% subscription revenue growth in constant currency and 28.7% EBITDA margin (+640bps y/y improvement). The company execution and business trends are clearly improving. The good business momentum could be sustainable because of a strong positioning in the energy sector and growing exposure to the US. Both these segments are experiencing increasing demand for telematics and software automation, for many reasons. On balance, the financial outlook for FY:2019 subscription revenue growth implies a deceleration from mid- teens to low teens. The target is appropriate given the core South African segment had a good quarter but still faces currency and macro economic fluctuations. These items could raise execution risks and investor concerns.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 27.8% and a 79.9% 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 $23.
See today’s analyst top recommended stocks >>
The company has a one-year high of $18.84 and a one-year low of $5.59. Currently, MiX Telematics has an average volume of 101.5K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
