In the latest trading session, Powerfleet (PWFL) moved +0.18% from previous day to close at $5.46. The stock’s performance outpaced the S&P 500’s daily gain of 0.12%. Meanwhile, the Dow Jones Industrial Average rose 0.34%, while the tech-heavy Nasdaq fell 0.07%.
As of today, shares of the company, which makes vehicle tracking and communications technology, had gained 34.24% in the past month. During the same period, the Transportation sector rose 2.42%, while the S&P 500 rose 4.99%.
The investment community will be paying close attention to PowerFleet’s earnings performance in upcoming releases. At the same time, our latest consensus estimate is projecting his revenue of $33.26 million, reflecting 1.28% year-over-year increase.
PWFL’s full-year Zacks Consensus Estimates are calling for earnings of $0.06 per share and revenue of $252.2 million. These results represent year-over-year changes of +121.43% and +88.79%, respectively.
Investors should also pay attention to the latest changes to analyst estimates for PowerFleet. Recent revisions tend to reflect the latest short-term business trends. As a result, the positive estimate changes indicate that analysts have a favorable outlook on the health and profitability of the company’s business.
Based on our research, we believe these estimate revisions are directly related to near team stock movements. Investors can take advantage of this by using the Zacks Rank. This model takes these estimate changes into account and provides a simple and practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has a remarkable, third-party-audited track record of outperformance, with #1 rated stocks having an average annual Generates a return of +25%. Over the past month, the Zacks Consensus EPS estimate has moved 170.59% higher. PowerFleet currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Powerfleet is currently trading at a Forward P/E of 90.83. This is a premium compared to its industry’s average Forward P/E of 16.95.
Transportation – The service industry is part of the transportation sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by calculating the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and more, on Zacks.com.
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PowerFleet, Inc. (PWFL): Free Stock Analysis Report
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