
I'm Upgrading Karooooo To A Buy On Profitable Revenue Growth
I'm ugrading Karooooo Ltd. to a Buy on accelerating, profitable revenue growth and disciplined cost management. KARO's Logistics segment is outpacing Cartrack in its growth rate, driven by e-commerce and high customer retention, supporting a robust LTV to CAC of over 9x. Management highlights strong demand exceeding current onboarding capacity, with strategic expansion in Southeast Asia and Europe underway.
















