Barrington analyst Gary Prestopino has maintained their bullish stance on AIOT stock, giving a Buy rating on August 19.
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Gary Prestopino has given his Buy rating due to a combination of factors that highlight Powerfleet’s strong financial performance and strategic initiatives. Powerfleet’s Q1/26 results surpassed both the firm’s and market expectations, with significant revenue and EBITDA growth. This financial success is attributed to the company’s focus on high-margin recurring services, which has led to an impressive increase in service revenue and gross margins.
Furthermore, Powerfleet’s strategic shift towards bundled software-led solutions has resulted in deeper customer engagement and increased market penetration, particularly in its Unity solutions. The company has also demonstrated operational efficiency by achieving substantial cost synergies and launching strategic programs with major partners to enhance pipeline growth. These factors collectively support Prestopino’s optimistic outlook and Buy rating for Powerfleet’s stock.
According to TipRanks, Prestopino is a 5-star analyst with an average return of 10.0% and a 53.06% success rate. Prestopino covers the Consumer Cyclical sector, focusing on stocks such as Dorman Products, OPENLANE, and Liquidity Services.
In another report released on August 19, Lake Street also maintained a Buy rating on the stock with a $8.00 price target.