Powerfleet (NASDAQ:AIOT) Price Target Raised to $10.00

Powerfleet (NASDAQ:AIOT) had its price objective raised by equities researchers at Northland Securities from $8.00 to $10.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ target price suggests a potential upside of 50.60% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. William Blair reiterated an “outperform” rating on shares of Powerfleet in a report on Thursday. Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Powerfleet in a report on Monday, November 11th.

Powerfleet Stock Performance

Shares of NASDAQ AIOT opened at $6.64 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.71 and a debt-to-equity ratio of 0.25. Powerfleet has a fifty-two week low of $2.22 and a fifty-two week high of $6.80. The company’s 50 day simple moving average is $5.30.

Powerfleet (NASDAQ:AIOT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $77.02 million for the quarter, compared to analyst estimates of $74.54 million. During the same period in the previous year, the business posted ($0.14) EPS. As a group, sell-side analysts expect that Powerfleet will post -0.13 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.