Professional
Added to YB: 2024-04-02
Pitch date: 2024-03-13
PWFL [bullish]
PowerFleet, Inc.
-10.06%
current return
Author Info
Lake Cornelia Research Management provides managed accounts and bespoke advisory services to family offices & investment funds. Follow on Twitter/X.
Company Info
PowerFleet, Inc. provides Internet-of-Things solutions in the United States, Israel, and internationally.
Market Cap
$503.2M
Pitch Price
$3.58
Price Target
7.00 (+117%)
Dividend
N/A
EV/EBITDA
-59.16
P/E
-2.65
EV/Sales
3.50
Sector
Electronic Equipment, Instruments and Components
Category
special_situation
PowerFleet Inc 'PWFL' and MiX Telematics 'MIXT' Merger
PWFL: IoT co merging with MIXT at ~4.5x EBITDA, enabling 20% recurring rev growth. Mgmt sees $6-7 PT (now $3), potential silly return if proves viable vs giants like $IOT. Deal brings scale, synergies, unified offering. Delevering 17x to 1x debt/EBITDA. New CEO + team=growth focus. Shrs discounted by merger arbs.
Read full article (9 min)