Raymond James Financial Raises Karooooo (NASDAQ:KARO) Price Target to $75.00

Karooooo (NASDAQ:KARO) had its price target lifted by stock analysts at Raymond James Financial from $60.00 to $75.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s price target would indicate a potential upside of 19.66% from the company’s current price.

KARO has been the topic of a number of other research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. UBS Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Karooooo in a research note on Thursday. Wall Street Zen lowered shares of Karooooo from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Zacks Research upgraded shares of Karooooo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Needham & Company LLC upped their price target on shares of Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $73.50.

Karooooo Stock Down 3.8%

Shares of Karooooo stock traded down $2.48 during midday trading on Friday, hitting $62.67. The company’s stock had a trading volume of 150,420 shares, compared to its average volume of 76,629. The firm has a market capitalization of $1.94 billion, a P/E ratio of 31.82 and a beta of 0.89. The stock has a 50-day simple moving average of $49.88 and a 200-day simple moving average of $48.72. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.17. Karooooo has a 1-year low of $41.25 and a 1-year high of $66.19.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The firm had revenue of $96.26 million for the quarter. Karooooo had a return on equity of 33.60% and a net margin of 17.74%.Karooooo has set its FY 2027 guidance at 2.334-2.425 EPS. As a group, sell-side analysts expect that Karooooo will post 2.37 earnings per share for the current year.

Institutional Trading of Karooooo

Large investors have recently added to or reduced their stakes in the business. Capricorn Fund Managers Ltd increased its stake in shares of Karooooo by 16.9% during the 1st quarter. Capricorn Fund Managers Ltd now owns 278,346 shares of the company’s stock worth $13,873,000 after purchasing an additional 40,268 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its holdings in Karooooo by 22.9% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company’s stock worth $3,566,000 after purchasing an additional 14,600 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Karooooo by 115.4% in the third quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock worth $4,234,000 after purchasing an additional 39,709 shares in the last quarter. Marshall Wace LLP increased its position in Karooooo by 699.1% during the second quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after buying an additional 48,644 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Karooooo by 43.1% during the fourth quarter. First Trust Advisors LP now owns 46,767 shares of the company’s stock worth $2,128,000 after buying an additional 14,078 shares during 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.