Barrington Maintains a Bullish Stance on PowerFleet (AIOT)

PowerFleet Inc. (NASDAQ:AIOT) is one of the top strong buy stocks under $5 to buy now. Barrington analyst Gary Prestopino maintained a bullish stance on PowerFleet Inc. (NASDAQ:AIOT) on August 19, giving the stock a Buy rating with a $15 price target.

The analyst supported the optimistic rating with PowerFleet Inc.’s (NASDAQ:AIOT) strategic initiatives and solid financial performance, stating that the company’s fiscal Q1 2026 results exceeded both the market and the firm’s expectations with considerable EBITDA and revenue growth.

The analyst attributed this growth to PowerFleet Inc.’s (NASDAQ:AIOT) focus on high-margin recurring services, resulting in a significant rise in gross margins and service revenue.

Prestopino further stated that PowerFleet Inc. (NASDAQ:AIOT) exhibited operational efficiency by attaining considerable cost synergies and launching strategic programs with major partners to bolster pipeline growth.

PowerFleet Inc. (NASDAQ:AIOT) provides fleet management solutions for industrial, logistics, and vehicles. The company offers wireless Internet of Things and machine-to-machine solutions for controlling, securing, tracking, and managing enterprise assets, including containers, industrial trucks, tractor-trailers, cargo, and more.

Its operations are divided into the following geographical segments: the United States, Israel, and Other.

While we acknowledge the potential of AIOT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.