Karooooo (NASDAQ:KARO – Get Free Report) was downgraded by analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Friday,Zacks.com reports.
Several other equities analysts have also issued reports on KARO. Wall Street Zen lowered Karooooo from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Zacks Research raised shares of Karooooo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Needham & Company LLC raised their price target on shares of Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday. Raymond James Financial lifted their price objective on shares of Karooooo from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, UBS Group reiterated a “buy” rating and set a $75.00 price objective on shares of Karooooo in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Karooooo presently has a consensus rating of “Buy” and an average price target of $73.50.
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Karooooo Stock Down 3.8%
Karooooo (NASDAQ:KARO – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $96.26 million for the quarter. Karooooo had a return on equity of 31.97% and a net margin of 17.74%.Karooooo has set its FY 2027 guidance at 2.334-2.425 EPS. On average, analysts forecast that Karooooo will post 2.37 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Karooooo
Several institutional investors have recently added to or reduced their stakes in the business. DGS Capital Management LLC increased its position in shares of Karooooo by 5.7% in the 1st quarter. DGS Capital Management LLC now owns 7,359 shares of the company’s stock valued at $367,000 after acquiring an additional 398 shares during the period. Renaissance Technologies LLC raised its stake in Karooooo by 1.4% in the 1st quarter. Renaissance Technologies LLC now owns 27,987 shares of the company’s stock worth $1,395,000 after acquiring an additional 400 shares during the last quarter. Lazard Asset Management LLC lifted its position in Karooooo by 7.5% during the 3rd 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 period. Bank of America Corp DE lifted its position in Karooooo by 17.2% during the 2nd 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 period. Finally, Harbour Capital Advisors LLC grew its stake in Karooooo by 16.7% during the 4th quarter. Harbour Capital Advisors LLC now owns 5,425 shares of the company’s stock valued at $242,000 after purchasing an additional 775 shares during the last quarter.
Karooooo News Summary
Here are the key news stories impacting Karooooo this week:
- Positive Sentiment: Raymond James raised its price target on Karooooo from $60 to $75 and reiterated an outperform rating, signaling confidence in further upside from current levels.
- Positive Sentiment: The company reported a strong Q1 earnings beat, with revenue up 22% and earnings per share above expectations, reinforcing the view that core business momentum remains intact. Karooooo Ltd. (KARO) Surpasses Q1 Earnings and Revenue Estimates
- Positive Sentiment: Subscriber growth in Cartrack accelerated, including reports of record subscriber additions and 18% growth in the quarter, which supports expectations for continued subscription revenue expansion. Karooooo’s growth bet pays off with record subscriber haul
- Neutral Sentiment: Investors also pointed to healthy margins, a strong cash position, and dividend support, which help offset foreign-exchange pressure and keep the balance sheet flexible.
- Neutral Sentiment: Karooooo’s Q1 results presentation and related coverage largely reinforced the same growth narrative rather than introducing a new catalyst. Karooooo Ltd. 2027 Q1 – Results – Earnings Call Presentation
- Negative Sentiment: Some margin compression from FX headwinds and higher sales and marketing spending could temper enthusiasm, though these issues have not yet outweighed the company’s growth story.
Karooooo Company Profile
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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