PowerFleet (NASDAQ:AIOT) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

PowerFleet (NASDAQ:AIOT) posted its quarterly earnings results on Monday. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06, FiscalAI reports. PowerFleet had a negative net margin of 4.16% and a positive return on equity of 0.48%. The business had revenue of $115.72 million during the quarter, compared to analysts’ expectations of $114.92 million. During the same period last year, the company posted ($0.02) earnings per share.

PowerFleet Stock Performance

Shares of AIOT opened at $2.69 on Monday. The business has a 50-day moving average of $2.80 and a 200 day moving average of $3.47. PowerFleet has a fifty-two week low of $2.29 and a fifty-two week high of $5.88. The firm has a market cap of $361.08 million, a P/E ratio of -19.21 and a beta of 1.42. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.10.

Analyst Ratings Changes

A number of analysts recently commented on AIOT shares. Barrington Research set a $10.00 target price on PowerFleet in a research report on Monday, August 10th. Northland Securities set a $7.00 price objective on PowerFleet in a research note on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a report on Friday, September 11th. Zacks Research raised PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Raymond James Financial downgraded shares of PowerFleet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.40.

About PowerFleet

Powerfleet, Inc provides connected-vehicle and asset-management solutions designed to help organizations monitor, manage and optimize mobile assets. Its platform combines Internet of Things (IoT) connectivity, telematics, location tracking and analytics to deliver visibility into vehicles, equipment, cargo and other assets.

The company’s products and services support fleet management, driver safety, vehicle and equipment utilization, maintenance, logistics and supply-chain operations. Powerfleet serves a range of industries, including transportation, logistics, commercial fleets, rental and leasing, construction, manufacturing and other organizations that rely on mobile assets.

Powerfleet has expanded its capabilities through acquisitions and business combinations, including its 2019 acquisition of Pointer Telocation and its 2024 combination with MiX Telematics.