PowerFleet (PWFL) Received its Third Buy in a Row

By Austin Angelo

After B.Riley FBR and Barrington gave PowerFleet (NASDAQ: PWFL) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Michael Walkley maintained a Buy rating on PowerFleet today and set a price target of $10.00. The company’s shares closed last Monday at $4.40, close to its 52-week low of $4.20.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 15.3% and a 60.3% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Sequans Communications S A, and Adesto Technologies.

PowerFleet has an analyst consensus of Strong Buy, with a price target consensus of $10.17, representing a 103.8% 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.

See today’s analyst top recommended stocks >>

The company has a one-year high of $8.50 and a one-year low of $4.20. Currently, PowerFleet has an average volume of 124.3K.

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.