Barrington Research Forecasts Strong Price Appreciation for Powerfleet (NASDAQ:AIOT) Stock

Powerfleet (NASDAQ:AIOT) had its target price lifted by Barrington Research from $10.00 to $15.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on AIOT. William Blair reissued an “outperform” rating on shares of Powerfleet in a research report on Thursday. Northland Securities boosted their price objective on Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday.

Powerfleet Stock Performance

NASDAQ:AIOT opened at $7.11 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.71. The company has a 50 day simple moving average of $5.34. Powerfleet has a 12-month low of $2.22 and a 12-month high of $7.23.

Powerfleet (NASDAQ:AIOT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $77.02 million during the quarter, compared to the consensus estimate of $74.54 million. During the same quarter in the prior year, the business posted ($0.14) EPS. Equities analysts predict that Powerfleet will post -0.14 EPS for the current fiscal year.

About Powerfleet

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.