Barrington analyst Gary Prestopino maintained a Buy rating on PowerFleet (PWFL) today and set a price target of $12.00. The company’s shares closed last Thursday at $4.70.
According to TipRanks.com, Prestopino is a 4-star analyst with an average return of 5.9% and a 45.8% success rate. Prestopino covers the Technology sector, focusing on stocks such as Bottomline Technologies, Cars, and NIC.
Currently, the analyst consensus on PowerFleet is a Strong Buy with an average price target of $7.40, implying a 55.8% upside from current levels. In a report issued on May 14, Canaccord Genuity also maintained a Buy rating on the stock with a $8.00 price target.
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Based on PowerFleet’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $16.27 million and GAAP net loss of $2.59 million. In comparison, last year the company earned revenue of $14.81 million and had a GAAP net loss of $1.12 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PWFL in relation to earlier this year.
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.
PowerFleet, Inc. engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things (IoT) and machine to machine (M2M) solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets. The company was founded in 1993 and is headquartered in Woodcliff Lake, NJ.
