PowerFleet (PWFL) Gets a Buy Rating from Barrington

In a report released today, Gary Prestopino from Barrington maintained a Buy rating on PowerFleet (PWFL), with a price target of $12.00. The company’s shares closed last Tuesday at $5.73.

According to TipRanks.com, Prestopino is a 4-star analyst with an average return of 6.8% and a 46.6% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services, Points International, and Liquidity Services.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for PowerFleet with a $9.31 average 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 $25.77 million and GAAP net loss of $2.63 million. In comparison, last year the company earned revenue of $16.27 million and had a GAAP net loss of $2.59 million.

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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.

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