Karooooo (NASDAQ:KARO) Price Target Raised to $58.00

Karooooo (NASDAQ:KARO) had its price objective increased by Raymond James from $51.00 to $58.00 in a report published on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

Karooooo Trading Up 8.4%

Shares of KARO stock opened at $54.48 on Friday. Karooooo has a 52-week low of $25.80 and a 52-week high of $55.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25. The firm has a market capitalization of $1.68 billion, a PE ratio of 34.92 and a beta of 1.03. The stock has a fifty day simple moving average of $42.14 and a two-hundred day simple moving average of $43.99.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. The business had revenue of $65.12 million during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business posted $6.81 EPS. On average, analysts predict that Karooooo will post 1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming bought a new position in shares of Karooooo during the 1st quarter valued at about $418,000. Credit Agricole S A boosted its holdings in shares of Karooooo by 95.5% during the 1st quarter. Credit Agricole S A now owns 14,049 shares of the company’s stock valued at $598,000 after purchasing an additional 6,861 shares during the last quarter. Capricorn Fund Managers Ltd boosted its holdings in shares of Karooooo by 8.0% during the 1st quarter. Capricorn Fund Managers Ltd now owns 143,470 shares of the company’s stock valued at $6,103,000 after purchasing an additional 10,586 shares during the last quarter. Nipun Capital L.P. bought a new position in shares of Karooooo during the 1st quarter valued at about $242,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Karooooo by 6.8% during the 4th quarter. Squarepoint Ops LLC now owns 9,494 shares of the company’s stock valued at $429,000 after purchasing an additional 602 shares during the last quarter.

Karooooo Company Profile

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.