Karooooo (NASDAQ:KARO) PT Raised to $37.00

Karooooo (NASDAQ:KARO) had its price target upped by Morgan Stanley from $31.00 to $37.00 in a report issued on Thursday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Karooooo Stock Down 0.2 %

Karooooo stock opened at $32.73 on Thursday. Karooooo has a 12-month low of $18.59 and a 12-month high of $37.11. The firm’s 50-day moving average is $30.11 and its two-hundred day moving average is $27.19. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.06.

Karooooo (NASDAQ:KARO) last released its quarterly earnings results on Wednesday, May 15th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Karooooo had a net margin of 17.54% and a return on equity of 27.24%. The company had revenue of $57.64 million for the quarter, compared to analysts’ expectations of $55.54 million. On average, equities analysts anticipate that Karooooo will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Jupiter Asset Management Ltd. lifted its holdings in shares of Karooooo by 2.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 198,392 shares of the company’s stock worth $4,972,000 after acquiring an additional 5,002 shares during the period. Swedbank AB purchased a new position in shares of Karooooo during the 1st quarter worth about $2,387,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Karooooo during the 1st quarter worth about $67,000.

About Karooooo

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.