B.Riley FBR Keeps Their Buy Rating on PowerFleet (PWFL)

By Austin Angelo

In a report released today, Josh Nichols from B.Riley FBR reiterated a Buy rating on PowerFleet (PWFLResearch Report), with a price target of $6.25. The company’s shares closed last Monday at $4.39, close to its 52-week low of $3.76.

According to TipRanks.com, Nichols is a 4-star analyst with an average return of 7.7% and a 37.6% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies, Avid Technology, and Horizon Global.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for PowerFleet with a $9.42 average price target, an 88.8% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $10.00 price target.

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Based on PowerFleet’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $4.09 million. In comparison, last year the company had a GAAP net loss of $2.81 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.