Karooooo (NASDAQ:KARO) Shares Gap Up – Still a Buy?

Karooooo Ltd. (NASDAQ:KARO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $43.20, but opened at $45.10. Karooooo shares last traded at $44.18, with a volume of 3,965 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Raymond James restated an “outperform” rating and set a $51.00 price target (up previously from $46.00) on shares of Karooooo in a report on Thursday, January 16th.

Karooooo Stock Up 2.1 %

The company has a 50-day simple moving average of $45.07 and a 200 day simple moving average of $43.23. The company has a market cap of $1.36 billion, a P/E ratio of 28.29 and a beta of 1.03. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.14.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. On average, equities analysts anticipate that Karooooo Ltd. will post 1.57 EPS for the current year.

Hedge Funds Weigh In On Karooooo

Hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund bought a new position in shares of Karooooo during the 4th quarter worth $26,000. Squarepoint Ops LLC grew its position in shares of Karooooo by 6.8% during the 4th quarter. Squarepoint Ops LLC now owns 9,494 shares of the company’s stock worth $429,000 after buying an additional 602 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Karooooo by 17.5% during the 4th quarter. Lazard Asset Management LLC now owns 4,961 shares of the company’s stock worth $223,000 after buying an additional 740 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Karooooo by 0.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 236,972 shares of the company’s stock worth $10,699,000 after buying an additional 1,387 shares in the last quarter. Finally, Polen Capital Management LLC grew its position in shares of Karooooo by 24.8% during the 4th quarter. Polen Capital Management LLC now owns 13,273 shares of the company’s stock worth $599,000 after buying an additional 2,639 shares in 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.