Stock Track | Karooooo Ltd. Soars 8.31% After-Hours on Strong Q3 Earnings and Record Subscriber Growth

Stock Track01-21 05:56

Karooooo Ltd. (KARO) surged 8.31% in after-hours trading on Tuesday following the release of its strong third-quarter financial results. The telematics firm reported significant growth across key metrics, including a 28% year-over-year increase in SaaS annual recurring revenue (ARR) to $298 million and a 20% rise in Cartrack subscription revenue to ZAR 1,236 million.

The company also posted record net subscriber additions, which grew 29% year-over-year, driven by increased adoption of its Video and Cartrack Tag solutions. Karooooo's adjusted earnings per share of $0.49 beat analyst estimates by 6.52%, while quarterly sales of $81.374 million exceeded consensus expectations by 2.77%. Additionally, the company raised the midpoint of its FY26 revenue outlook, signaling confidence in its growth trajectory.

Analysts remain bullish on Karooooo, with an average "buy" rating and a median 12-month price target of $60.00, representing a 28.2% upside from its recent closing price. The stock's after-hours surge reflects investor optimism about the company's accelerating growth and disciplined capital allocation strategy.

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