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PowerFleet (PWFL) Stock Moves -0.19%: What You Should Know

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In the latest trading session, PowerFleet (PWFL - Free Report) closed at $5.23, marking a -0.19% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.74%. At the same time, the Dow lost 1.53%, and the tech-heavy Nasdaq lost 0.39%.

The the stock of maker of tracking and communications technology for fleet vehicles has risen by 24.17% in the past month, leading the Transportation sector's loss of 0.02% and the S&P 500's gain of 6.06%.

The investment community will be paying close attention to the earnings performance of PowerFleet in its upcoming release. Meanwhile, the latest consensus estimate predicts the revenue to be $33.26 million, indicating a 1.28% increase compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.06 per share and a revenue of $252.2 million, signifying shifts of +121.43% and +88.79%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for PowerFleet. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 170.59% increase. PowerFleet currently has a Zacks Rank of #2 (Buy).

Investors should also note PowerFleet's current valuation metrics, including its Forward P/E ratio of 87.33. This valuation marks a premium compared to its industry's average Forward P/E of 19.31.

The Transportation - Services industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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