PowerFleet (PWFL) Stock Moves -0.19%: What You Should Know

In the latest trading session, PowerFleet (PWFL) closed at $5.23, marking a -0.19% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.74%. At the same time, the Dow lost 1.53%, and the tech-heavy Nasdaq lost 0.39%.

The the stock of maker of tracking and communications technology for fleet vehicles has risen by 24.17% in the past month, leading the Transportation sector's loss of 0.02% and the S&P 500's gain of 6.06%.

The investment community will be paying close attention to the earnings performance of PowerFleet in its upcoming release. Meanwhile, the latest consensus estimate predicts the revenue to be $33.26 million, indicating a 1.28% increase compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.06 per share and a revenue of $252.2 million, signifying shifts of +121.43% and +88.79%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for PowerFleet. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 170.59% increase. PowerFleet currently has a Zacks Rank of #2 (Buy).

Investors should also note PowerFleet's current valuation metrics, including its Forward P/E ratio of 87.33. This valuation marks a premium compared to its industry's average Forward P/E of 19.31.

The Transportation - Services industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Research Chief Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.

Free: See Our Top Stock And 4 Runners Up

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

PowerFleet, Inc. (PWFL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.