Karooooo Ltd. (NASDAQ:KARO) Receives $59.00 Consensus Price Target from Analysts

Karooooo Ltd. (NASDAQ:KARO) has earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $59.00.

Several research firms recently weighed in on KARO. Weiss Ratings upgraded shares of Karooooo from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. Roth Mkm started coverage on Karooooo in a research note on Tuesday, February 17th. They set a “buy” rating and a $62.00 price target on the stock. Finally, Wall Street Zen upgraded Karooooo from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th.

Karooooo Trading Up 2.0%

Shares of Karooooo stock opened at $52.02 on Friday. Karooooo has a 1 year low of $37.73 and a 1 year high of $63.36. The company’s fifty day simple moving average is $48.08 and its 200-day simple moving average is $47.48. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 28.12 and a beta of 1.02. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06.

Karooooo (NASDAQ:KARO) last released its earnings results on Tuesday, January 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Karooooo had a net margin of 19.45% and a return on equity of 31.83%. The firm had revenue of $82.34 million during the quarter, compared to analysts’ expectations of $79.04 million. Karooooo has set its FY 2026 guidance at 1.876-2.049 EPS. As a group, sell-side analysts expect that Karooooo will post 1.57 EPS for the current year.

Institutional Investors Weigh In On Karooooo

A number of institutional investors have recently bought and sold shares of KARO. Geode Capital Management LLC increased its stake in Karooooo by 56.6% in the second quarter. Geode Capital Management LLC now owns 29,892 shares of the company’s stock valued at $1,464,000 after acquiring an additional 10,799 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Karooooo by 216.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,089 shares of the company’s stock valued at $396,000 after purchasing an additional 5,529 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Karooooo in the 2nd quarter worth approximately $1,378,000. New York State Common Retirement Fund raised its holdings in shares of Karooooo by 465.6% in the 2nd quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock worth $160,000 after buying an additional 2,682 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Karooooo during the 2nd quarter worth approximately $156,000.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.