MiX Telematics (MIXT) Gets a Hold Rating from Oppenheimer

By Carrie Williams

Oppenheimer analyst Brian Schwartz maintained a Hold rating on MiX Telematics (MIXTResearch Report) today. The company’s shares opened today at $16.21.

Schwartz said:

“MiX Telematics reported a beat-and-raise quarter in F3Q19. The company enjoyed strength across the business (subscriber expansions, big fleet deals, pricing, cash flow) and is experiencing early traction with Mix Now, the SMB product. Management also gave strong commentary on demand in the Energy vertical. Metrics were solid too, including 30.3% adj. EBITDA margin, 17% subscription revenue growth, and 22,000+ subscribers added. Bottom Line: While we believe the company is very well run and the business momentum remains on an uptrend, the challenge for 2019, in our view, will be if the business can sustain its strengthening momentum from scaling the Americas’ business and with new products and services.”

According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 26.2% and a 75.9% success rate. Schwartz covers the Technology sector, focusing on stocks such as Salesforce.com, Trade Desk Inc, and Carbonite Inc.

Currently, the analyst consensus on MiX Telematics is a Moderate Buy with an average price target of $27.50.

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The company has a one-year high of $21 and a one-year low of $11.55. Currently, MiX Telematics has an average volume of 94.9K.

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MiX Telematics Ltd. engages in the provision of fleet and mobile asset management solutions. It focuses on the following industries: fast moving consumer goods, utilities, security, construction, transport and distribution, emergency services, government, rental and leasing, mining, oil and gas, and public transport.