Karooooo (NASDAQ:KARO) Trading 5.6% Higher - Here's Why
Karooooo Ltd. (NASDAQ:KARO) shares rose 5.6% to $45.78, with a trading volume decline of 9%. Analysts have mixed ratings, with Weiss Ratings issuing a "hold" and UBS a "buy" with a $60 target. The company reported Q3 earnings of $0.47 EPS, exceeding estimates, and revenue of $76.16 million. Institutional investors have increased their stakes, indicating growing interest. Karooooo specializes in mobility SaaS for connected vehicles across various regions.
Shares of Karooooo Ltd. (NASDAQ:KARO - Get Free Report) traded up 5.6% during mid-day trading on Monday . The company traded as high as $46.45 and last traded at $45.78. 67,010 shares traded hands during trading, a decline of 9% from the average session volume of 73,756 shares. The stock had previously closed at $43.37.
Analyst Upgrades and Downgrades
KARO has been the subject of a number of analyst reports. Weiss Ratings assumed coverage on Karooooo in a report on Thursday, October 16th. They issued a "hold (c+)" rating for the company. UBS Group initiated coverage on Karooooo in a report on Friday, August 29th. They set a "buy" rating and a $60.00 price objective on the stock. Wall Street Zen lowered Karooooo from a "buy" rating to a "hold" rating in a report on Saturday, October 18th. Raymond James Financial reiterated an "outperform" rating and set a $60.00 price target (up from $58.00) on shares of Karooooo in a research report on Thursday, July 24th. Finally, Zacks Research lowered shares of Karooooo from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 11th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.25.
Get Our Latest Stock Report on Karooooo
Karooooo Trading Up 5.6%
The stock has a 50 day moving average of $51.28 and a 200 day moving average of $50.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.80 and a quick ratio of 0.79. The firm has a market cap of $1.41 billion, a P/E ratio of 25.58 and a beta of 1.06.
Karooooo (NASDAQ:KARO - Get Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $76.16 million during the quarter, compared to analysts' expectations of $73.45 million. Karooooo had a return on equity of 31.64% and a net margin of 19.90%. Karooooo has set its FY 2026 guidance at 1.830-2.000 EPS. As a group, equities research analysts predict that Karooooo Ltd. will post 1.57 EPS for the current year.
Institutional Investors Weigh In On Karooooo
Several institutional investors have recently bought and sold shares of KARO. Jones Financial Companies Lllp increased its stake in Karooooo by 159.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 804 shares of the company's stock worth $46,000 after purchasing an additional 494 shares during the period. Murphy & Mullick Capital Management Corp grew its holdings in shares of Karooooo by 260.0% in the third quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company's stock worth $51,000 after purchasing an additional 650 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Karooooo by 17.2% in the second quarter. Bank of America Corp DE now owns 5,100 shares of the company's stock worth $250,000 after purchasing an additional 750 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Karooooo by 12.0% in the third quarter. GSA Capital Partners LLP now owns 7,582 shares of the company's stock worth $433,000 after buying an additional 810 shares during the period. Finally, Copeland Capital Management LLC bought a new stake in Karooooo during the 3rd quarter valued at $76,000.
Karooooo Company Profile
(Get Free Report)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.
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