Karooooo (NASDAQ:KARO) Shares Down 5% – Here’s Why

Karooooo Ltd. (NASDAQ:KARO) shares traded down 5% during mid-day trading on Monday . The stock traded as low as $51.00 and last traded at $50.68. 11,043 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 46,370 shares. The stock had previously closed at $53.35.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of Karooooo from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Roth Mkm initiated coverage on shares of Karooooo in a research note on Tuesday, February 17th. They set a “buy” rating and a $62.00 price objective for the company. Finally, Wall Street Zen upgraded Karooooo from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Karooooo has an average rating of “Moderate Buy” and an average target price of $59.00.

Karooooo Stock Down 3.8%

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 27.89 and a beta of 1.02. The firm has a 50 day moving average price of $48.19 and a two-hundred day moving average price of $47.31.

Karooooo (NASDAQ:KARO) last posted its earnings results on Tuesday, January 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $79.04 million. Karooooo has set its FY 2026 guidance at 1.876-2.049 EPS. On average, equities analysts expect that Karooooo Ltd. will post 1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KARO. Jones Financial Companies Lllp lifted its stake in shares of Karooooo by 159.4% during the third quarter. Jones Financial Companies Lllp now owns 804 shares of the company’s stock worth $46,000 after purchasing an additional 494 shares in the last quarter. Murphy & Mullick Capital Management Corp grew its stake in shares of Karooooo by 260.0% in the third quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company’s stock valued at $51,000 after buying an additional 650 shares in the last quarter. Copeland Capital Management LLC purchased a new stake in shares of Karooooo during the 3rd quarter valued at about $76,000. Fideuram Asset Management Ireland dac acquired a new position in Karooooo during the 4th quarter worth approximately $80,000. Finally, Royal Bank of Canada lifted its position in Karooooo by 852.9% during the 4th quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock worth $135,000 after acquiring an additional 2,644 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.