Karooooo (NASDAQ:KARO – Get Free Report) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.
A number of other analysts have also recently issued reports on KARO. Wall Street Zen cut shares of Karooooo from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. UBS Group decreased their price target on Karooooo from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Roth Capital reissued a “buy” rating and set a $68.00 price objective on shares of Karooooo in a report on Thursday, May 14th. Needham & Company LLC restated a “buy” rating on shares of Karooooo in a report on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $60.75.
Get Our Latest Stock Analysis on Karooooo
Karooooo Stock Up 0.0%
Karooooo (NASDAQ:KARO – Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $0.45 earnings per share (EPS) for the quarter. The firm had revenue of $90.93 million during the quarter. Karooooo had a return on equity of 31.26% and a net margin of 18.07%. As a group, equities research analysts anticipate that Karooooo will post 2.37 EPS for the current year.
Institutional Trading of Karooooo
Several hedge funds have recently modified their holdings of KARO. DGS Capital Management LLC raised its holdings in shares of Karooooo by 5.7% in the first quarter. DGS Capital Management LLC now owns 7,359 shares of the company’s stock valued at $367,000 after buying an additional 398 shares during the last quarter. Renaissance Technologies LLC increased its position in Karooooo by 1.4% in the 1st quarter. Renaissance Technologies LLC now owns 27,987 shares of the company’s stock valued at $1,395,000 after acquiring an additional 400 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Karooooo by 7.5% in the third quarter. Lazard Asset Management LLC now owns 6,139 shares of the company’s stock worth $351,000 after acquiring an additional 430 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Karooooo by 17.2% in the second quarter. Bank of America Corp DE now owns 5,100 shares of the company’s stock worth $250,000 after acquiring an additional 750 shares during the last quarter. Finally, Harbour Capital Advisors LLC lifted its position in shares of Karooooo by 16.7% during the fourth quarter. Harbour Capital Advisors LLC now owns 5,425 shares of the company’s stock worth $242,000 after purchasing an additional 775 shares in the last quarter.
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.
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