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

Shares of Karooooo Ltd. (NASDAQ:KARO) gapped up prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

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

Karooooo Stock Performance

The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 28.54 and a beta of 1.03. The stock’s fifty day moving average is $44.94 and its two-hundred day moving average is $43.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25.

Karooooo (NASDAQ:KARO) last released its quarterly earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. On average, analysts expect that Karooooo Ltd. will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Karooooo

Several institutional investors have recently bought and sold shares of KARO. Squarepoint Ops LLC lifted its stake in shares of Karooooo by 6.8% in the 4th quarter. Squarepoint Ops LLC now owns 9,494 shares of the company’s stock worth $429,000 after acquiring an additional 602 shares during the period. Lazard Asset Management LLC boosted its stake in Karooooo by 17.5% during the 4th quarter. Lazard Asset Management LLC now owns 4,961 shares of the company’s stock valued at $223,000 after purchasing an additional 740 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Karooooo during the 4th quarter valued at $210,000. Northern Trust Corp bought a new stake in shares of Karooooo in the 4th quarter worth $340,000. Finally, Marshall Wace LLP lifted its holdings in shares of Karooooo by 32.4% in the fourth quarter. Marshall Wace LLP now owns 39,021 shares of the company’s stock valued at $1,762,000 after buying an additional 9,552 shares during the period.

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.