PowerFleet (PWFL) Receives a Rating Update from a Top Analyst

In a report released today, Gary Prestopino from Barrington maintained a Buy rating on PowerFleet (PWFLResearch Report), with a price target of $7.00. The company’s shares opened today at $2.80.

According to TipRanks, Prestopino is a top 100 analyst with an average return of 31.0% and a 62.50% success rate. Prestopino covers the Technology sector, focusing on stocks such as Cars, CCC Intelligent Solutions Holdings, and PowerFleet.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PowerFleet with a $7.00 average price target, implying a 149.78% upside from current levels. In a report released on November 9, Canaccord Genuity also maintained a Buy rating on the stock with a $7.00 price target.

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Based on PowerFleet’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $34.29 million and a GAAP net loss of $2.3 million. In comparison, last year the company earned a revenue of $29.25 million and had a GAAP net loss of $3.35 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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