Here's Why the Best Is Yet to Come for CalAmp Corp.

Here's Why the Best Is Yet to Come for CalAmp Corp.

By most metrics, Internet of Things (IoT) provider CalAmp (NASDAQ: CAMP) appears woefully overvalued. So why is CalAmp's stock continually bumping against its 52-week high of $24.68 a share? The good news for investors in search of a pure growth alternative is that there are multiple reasons CalAmp stock has not only skyrocketed 55% in 2017 but still has room to grow.

For those not familiar with CalAmp, its suite of offerings include both stationary and mobile telematics -- or long-distance IoT network connectivity and data analysis -- along with cloud Software-as-a-Service (SaaS) solutions. CalAmp's primary markets include connected cars and industrial IoT.

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Source: Fool.com