PowerFleet (PWFL) Gets a Buy Rating from Barrington

By Austin Angelo

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 $5.96.

According to TipRanks.com, Prestopino is a 2-star analyst with an average return of 0.0% and a 47.5% success rate. Prestopino covers the Services sector, focusing on stocks such as US Auto Parts Network, Kar Auction Services, and Ritchie Bros.

Currently, the analyst consensus on PowerFleet is a Moderate Buy with an average price target of $12.00.

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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 $897K.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PWFL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.