Oppenheimer Reiterates a Hold Rating on MiX Telematics

By Austin Angelo

Oppenheimer analyst Brian Schwartz reiterated a Hold rating on MiX Telematics (NYSE: MIXT) today. The company’s shares opened today at $6.66.

Schwartz wrote:

“MiX Telematics finished FY:2017 with a good quarter and showed F4Q results beating consensus estimates. Total subscribers exceeded ~622K (+10% y/y), which keeps the business in the upper echelon for total subscribers among pure-play fleet and consumer telematics management vendors, and the energy segment is showing sustainable signs of improvement with large new logo wins and a third straight quarter of subscriber growth, which are positive trends for the business. Additionally, management is doing a good job on costs management.”

According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 21.9% and a 76.4% success rate. Schwartz covers the Technology sector, focusing on stocks such as Palo Alto Networks, Callidus Software, and Ultimate Software.

MiX Telematics has an analyst consensus of Moderate Buy, with a price target consensus of $12.

MiX Telematics’ market cap is currently $136.6M and has a P/E ratio of 21.64. The company has a book value ratio of 1.3015.

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MiX Telematics Ltd. is global provider of fleet and mobile asset management solutions delivered as Software as a service to customers which specializes in enterprise fleets, small fleets. It operates through the following segments: Americas, Europe, Brazil, Middle East Australasia, and Africa. The company was founded by Stefan Joselowitz in 1996 and is headquartered in Midrand, South Africa.