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 comprehensive fleet management SaaS platform that provides real-time insights; LiveVision, which offers comprehensive pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; Communicator, a software application enabling mobile device tracking and user management; asset tracking for tracking and tracing moveable assets; asset recovery services that assists vehicle owners and insurance companies with the recovery of vehicles and other assets; and insurance telematics, which allows insurers to tailor premiums for commercial and consumer customers using analytics. It also provides Protector, a safety package for consumer vehicles; and Car Watch, a mobile application that lets users track and watch their vehicles. In addition, the company offers specialist mobility solutions that include Bike Track, a GPS-based solution providing a comprehensive set of fleet management software features for commercial motorbike fleets; Credit Management that predicts payment cycles and facilitate active credit management for asset-based vehicle finance; and electronic monitoring services application, which allows law enforcement agencies to monitor persons of interest. Further, it provides mobility and monitoring solutions, such as Carzuka, cartrack insurance agency, and on-demand rideshare taxi application, as well as smart IoT products. The company offers its solutions through direct sales force to consumers and sole proprietors, small and medium-sized businesses, large enterprises, and other connected devices. Karooooo Ltd. was founded in 2001 and is headquartered in Singapore.
IPO Year: 2021
Exchange: NASDAQ
Website: karooooo.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/23/2023 | $26.00 | Buy → Hold | Stifel |
| 7/14/2021 | $45.00 → $43.00 | Overweight | Morgan Stanley |
Karooooo Limited ("Karooooo") reported strong results and a positive outlook in the second quarter ("Q2 2025") and Half-Year ("HY 2025") ended August 31, 2024. Karooooo owns 100% of Cartrack and 74.8% of Karooooo Logistics, (collectively, "the group"). Financial and operational highlights include: Karooooo subscribers increased 17% Y/Y to 2.14 million Cartrack net subscriber additions increased 18% Y/Y to a record 89,168 Cartrack gross margin improved approximately 300bps Y/Y to 74% Karooooo adjusted earnings per share increased 31% Y/Y to a record ZAR7.35 Raising FY25 outlook for subscribers and Cartrack subscription revenue at midpoint Zak Calisto, CEO and Founder: "We deliv
Karooooo Limited (NASDAQ:KARO) ("Karooooo" or "the Company"), which owns 100% of Cartrack and 74.8% of Karooooo Logistics, announced that the Company will release its Second Quarter 2025 Financial Results on Monday, October 14, 2024 shortly after 04:00 p.m. Eastern Time. Webcast: The Company will host a corresponding Zoom webinar on Tuesday, October 15, 2024 at 08:00 a.m. Eastern Time (02:00 p.m. South African time; 08:00 p.m. Singaporean time). Investors are invited to join the Zoom webinar at: https://us02web.zoom.us/j/82027776209 Webinar ID: 820 2777 6209 Telephone: US (New York) Toll-free: +1 646 558 8656 South Africa Toll-free: +27 87 551 7702 A replay will be available at www
Karooooo Ltd. ("Karooooo") today announced that Isaias (Zak) Jose Calisto (the "Selling Shareholder"), Karooooo's Chief Executive Officer, has terminated the underwritten secondary public offering (the "Offering") of ordinary shares previously announced on July 24, 2024. Though the proposed Offering, which was undertaken by the Selling Shareholder with the goal of improving liquidity for investors, was met with significant investor interest and an oversubscription of demand, the Selling Shareholder determined that recent changes in market conditions and the resulting impact on the share price made it inappropriate to proceed with the Offering at the current time. As a result of such termina
Karooooo Ltd. ("Karooooo") today announced the commencement of an underwritten secondary public offering (the "Offering") of a number of its ordinary shares held by Isaias (Zak) Jose Calisto, Karooooo's chief executive officer (the "Selling Shareholder"), that generates $75.0 million in gross proceeds. In addition, the underwriters of the Offering will have a 30-day option to purchase up to a number of additional ordinary shares that generates $11.25 million in gross proceeds from the Selling Shareholder. The price per ordinary share will be determined following the bookbuilding process. Karooooo's ordinary shares are listed on the Nasdaq Capital Market under the symbol "KARO." Karooooo i
Karooooo, that owns 100% of Cartrack and 74.8% of Karooooo Logistics, reported strong results for the quarter ended May 31, 2024 ("Q1 2025") and retained its positive outlook for the year. Zak Calisto, CEO and Founder: "The group's robust results, distribution expansion, vertically-integrated cloud platform enhancements, new generation AI-Powered telemetry and the prospect of improved economic conditions in South Africa, give us confidence that we can continue to extend our long-standing track record of strong customer acquisition and profitable growth at scale. Based on actionable data, we help our customers easily make decisions that improve their businesses and drive safety in thei
Karooooo Limited (NASDAQ:KARO) ("Karooooo" or "the Company"), which owns 100% of Cartrack Holdings, announced that the Company will release its First Quarter 2025 Financial Results on Thursday, July 18, 2024 shortly after 04:00 p.m. Eastern Time. Webcast: The Company will host a corresponding Zoom webinar on Friday, July 19, 2024 at 08:00 a.m. Eastern Time (02:00 p.m. South African time; 08:00 p.m. Singaporean time). Investors, analysts and the media are invited to join the Zoom webinar at: https://us02web.zoom.us/j/82089929893 Webinar ID: 820 8992 9893 Telephone: US (New York) Toll-free: +1 646 558 8656 South Africa Toll-free: +27 87 551 7702 A replay will be available at ww
Karooooo, that owns 100% of Cartrack, a leading provider of data analytics and business operational intelligence, reported strong results for the fourth quarter and full year ended February 29, 2024 ("Q4 2024" and "FY 2024"). Zak Calisto, CEO and Founder: "We believe Karooooo is well positioned to continue to grow at scale across diverse industries. We operate in a growing and largely underpenetrated market, with strong demand coming from customers needing to differentiate and digitalise themselves. Our proven, robust and strong track record of execution, compounding growth at scale and profitable business model is underpinned by a solid balance sheet and healthy cash position. We exp
Karooooo Limited (NASDAQ:KARO) ("Karooooo" or "the Company"), which owns 100% of Cartrack Holdings, announced that the Company will release its Fourth Quarter and Full Year 2024 Financial Results on Wednesday, May 15, 2024 shortly after 04:00 p.m. Eastern Time. Webcast: The Company will host a corresponding Zoom webinar on Thursday, May 16, 2024 at 08:00 a.m. Eastern Time (02:00 p.m. South African time; 08:00 p.m. Singaporean time). Investors, analysts and the media are invited to join the Zoom webinar at: https://us02web.zoom.us/j/89023760508 Webinar ID: 890 2376 0508 Telephone: US (New York) Toll-free: +1 646 558 8656 South Africa Toll-free: +27 87 551 7702 A replay will be
Karooooo Limited ("Karooooo") announces share repurchase by the Company. VOLUNTARY DISCLOSURE: SHARE REPURCHASE At the Annual General Meeting (AGM) held on July 12, 2023 the shareholders of Karooooo passed a resolution by a 97.35% majority vote authorizing the repurchase of up to 10% of the Company's shares. The Board is duly authorized to implement this share buyback program in accordance with the requirements outlined in the resolution. Karooooo intends to repurchase up to 1,000,000 of its common stock before the next Annual General Meeting (AGM). Purchases of ordinary shares by the Company may be made by way of market purchases on the Nasdaq and/or the JSE. The authority confer
Karooooo, that owns 100% of Cartrack, a leading provider of data analytics and business intelligence, reported solid results for the third quarter ended November 30, 2023 ("Q3 2024"). Zak Calisto, CEO and Founder: "These results extend the group's track record of robust growth at scale, profitability and cash generation over more than a decade. The group's success is underpinned by an entrepreneurial, innovative, agile and customer-centric culture with a prudent capital allocation strategy focused on growth. We remain confident that our track record of customer retention and our ability to continuously increase our value proposition puts us in a unique position to continue to increase
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SINGAPORE, June 25, 2021 /PRNewswire/ -- Karooooo Ltd. ("Karooooo" or the "Company") (NASDAQ:KARO), a leading global provider of a mobility SaaS platform that maximizes the value of automotive and workflow data by providing real-time data analytics solutions for smart transportation, today announced that Kim White has been appointed as an independent non-executive director to the board of directors of Karooooo ("Board") and member of the Audit and Risk Committee with immediate effect. Kim served on the board of Cartrack Holdings Limited ("Cartrack") as an independent non-execu
Karooooo, that owns 100% of Cartrack and 74.8% of Karooooo Logistics, reported strong results for the quarter ended May 31, 2024 ("Q1 2025") and retained its positive outlook for the year. Zak Calisto, CEO and Founder: "The group's robust results, distribution expansion, vertically-integrated cloud platform enhancements, new generation AI-Powered telemetry and the prospect of improved economic conditions in South Africa, give us confidence that we can continue to extend our long-standing track record of strong customer acquisition and profitable growth at scale. Based on actionable data, we help our customers easily make decisions that improve their businesses and drive safety in thei
Karooooo, that owns 100% of Cartrack, a leading provider of data analytics and business intelligence, reported strong results for the second quarter ("Q2 2024") and Half-Year ("HY 2024") ended August 31, 2023. These consistent results extend the group's track record of growth at scale, profitability and cash generation over more than a decade. Karooooo is a leading global provider of an on-the-ground operational IoT SaaS cloud that assists thousands of enterprise customers digitally transform their operations using real-time data analytics, with over 1,875,000 connected vehicles and assets as at the date of this press release. Zak Calisto, CEO and Founder, said: "Our proven, robust an
Fourth Quarter and full year 2022 Financial Results to be reported on April 27, 2022 Karooooo Ltd. ("Karooooo") (NASDAQ:KARO), which owns 100% of Cartrack Holdings ("Cartrack"), is a leading global provider of an on-the-ground operational IOT SaaS cloud that maximizes the value of transportation, operations and workflow data by providing insightful real-time data analytics to over 1,525,000 connected vehicles and equipment. Strong momentum in the number of subscribers carried through for the 2022 financial year ("2022"), ended February 28, 2022. The growing demand by small to large enterprises wanting to digitally transform their business to remain competitive prevailed throughout 2022.
Stifel downgraded Karooooo Ltd. from Buy to Hold and set a new price target of $26.00
Morgan Stanley reiterated coverage of Karooooo with a rating of Overweight and set a new price target of $43.00 from $45.00 previously
Raymond James initiated coverage of Karooooo with a rating of Outperform and set a new price target of $45.00
Stifel reiterated coverage of Karooooo with a rating of Buy and set a new price target of $51.00
Canaccord Genuity initiated coverage of Karooooo Ltd. with a rating of Buy and set a new price target of $45.00
Morgan Stanley initiated coverage of Karooooo Ltd. with a rating of Overweight and set a new price target of $45.00
BofA Securities initiated coverage of Karooooo Ltd. with a rating of Buy and set a new price target of $52.00
William Blair initiated coverage of Karooooo Ltd. with a rating of Outperform
Investec initiated coverage of Karooooo with a rating of Buy and set a new price target of $44.50
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