Barrington Keeps Their Buy Rating on PowerFleet (PWFL)

By Carrie Williams

Barrington analyst Gary Prestopino maintained a Buy rating on PowerFleet (PWFLResearch Report) today and set a price target of $12.00. The company’s shares closed last Monday at $5.57.

According to TipRanks.com, Prestopino has 0 stars on 0-5 star ranking scale with an average return of -4.3% and a 35.5% success rate. Prestopino covers the Services sector, focusing on stocks such as US Auto Parts Network, Kar Auction Services, and Liquidity Services.

Currently, the analyst consensus on PowerFleet is a Strong Buy with an average price target of $10.83, representing an 87.4% upside. In a report issued on March 5, B.Riley FBR also assigned a Buy rating to the stock with a $8.50 price target.

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Based on PowerFleet’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.59 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.