Raymond James Reiterates Buy Rating on PowerFleet, Inc.

Raymond James maintains its Buy rating for PowerFleet with a $7 price target, a 71.15% upside from the current price.

Written by Podchat · Published · Updated

Key Points

  • Raymond James reiterated its Buy rating for PowerFleet, Inc. (AIOT) on June 16, 2026, with a price target of $7.
  • Raymond James's $7 price target implies 71.15% upside from PowerFleet, Inc.'s ($AIOT) current $4.09 share price.
  • PowerFleet, Inc. trades at $4.12 with a market cap of approximately $555.5 million and a forward P/E of 12.4.
  • Insider buying has been active, with CEO Steven Towe purchasing 580,635 shares on February 25, 2026.

Important disclosure: Podchat is not a registered investment adviser, broker-dealer, or financial planner. This article is for informational and educational purposes only and is not a recommendation to buy, sell, or hold any security. Content may be generated by automated systems using public filings, market data, and third-party sources, and may contain errors or omissions. Investing involves risk, including possible loss of principal. Past performance, insider activity, analyst ratings, price targets, sentiment scores, and hypothetical or backtested results are not guarantees of future performance. Please do your own research and consult a qualified professional before making investment decisions.

Raymond James has reiterated its Buy rating for PowerFleet, Inc. (NasdaqGM: AIOT) as of June 16, 2026. The firm set a price target of $7 for the stock, highlighting its continued confidence in the company's potential.

PowerFleet, Inc. Stock Up 36.3%

Shares of NasdaqGM:AIOT are currently trading around $4.12. PowerFleet, Inc. has a market capitalization of approximately $555.5 million. The company's forward P/E ratio is 12.4, and it has a beta of 1.05. The stock's 52-week range is between $2.78 and $5.88, with a 50-day moving average of $3.47 and a 200-day moving average of $4.39. PowerFleet's current ratio is 1.13, and its quick ratio is 0.83, with a debt-to-equity ratio of 61.65.

Recent Earnings

PowerFleet, Inc. reported revenue of $443.8 million, with a revenue growth rate of 10.5%. The company is not currently profitable, as indicated by its negative EPS of -$0.15. Its net margin stands at -4.6%, and return on equity is -4.3%. The next earnings report is expected on August 10, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

D- 33/100

Reported Jun 15, 2026

  1. Forward outlook

    1 analysts cut price targets. 0 raised targets after the report.

  2. EPS & revenue

    Revenue missed estimates by 3.0%.

  3. Profit surprise

    EBITDA came in 35% above estimates. Operating income came in 114% above estimates.

  4. Pre-earnings setup

    The bar was high going in. Analysts were already very bullish.

  5. Analyst signal

    1 price target cut after the report.

  6. Earnings quality

    Gross margin up 1.2 points year over year. Operating margin up 20.0 points year over year.

Earnings Call Summary

PowerFleet delivered strong first-quarter results with services revenue jumping 53 percent year over year to 86.5 million dollars, now making up 83 percent of total revenue. The company won significant new customers including MTN Business across Africa and SIXT Rental in Mexico, and launched a new AI safety module that automatically detects driver fatigue and unsafe behavior. Management remains confident in reaching 85 percent-plus SaaS revenue mix and expects further margin expansion as the business scales its Unity platform.

Guidance PowerFleet expects to reach double-digit services growth by the end of fiscal 2026. Management raised the low end of guidance and projects an additional 30 million dollars in net debt reduction in the second half of the year, driven by top-line growth and improved working capital.

Very weak report. The release materially worsened the forward outlook.

Insider Buying and Selling at PowerFleet, Inc.

Insider buying activity at PowerFleet, Inc. has been notable, with several key executives acquiring shares earlier this year. On February 25, 2026, CEO Steven Towe purchased 580,635 shares, while CFO David Wilson acquired 290,317 shares. Additionally, Chief Innovation Officer Michael Joseph Powell bought 116,127 shares on the same date.

Analysts Set New Price Targets

On June 16, 2026, Raymond James maintained its Buy rating for PowerFleet, Inc. with a price target of $7. Barrington Research has also kept its Buy rating, setting a higher target of $15 earlier this year. Analysts' consensus estimates suggest a mean target price of $10.33, with six analysts providing their opinions.

About PowerFleet, Inc.

PowerFleet, Inc., headquartered in Woodcliff Lake, New Jersey, provides AIoT solutions that enhance operational efficiency for businesses worldwide. Their product offerings cover vehicle, video, and warehouse IoT, helping clients in sectors like construction, distribution, and public safety manage resources effectively. Led by CEO Steve Towe, the company serves a diverse international market.

Bottom Line

Raymond James' reiteration of its Buy rating for PowerFleet, Inc. underscores ongoing analyst confidence in the company's prospects. With its current trading price and market dynamics, investors will continue to monitor PowerFleet's performance closely. Remember, these ratings are based on past data and may not reflect the current market conditions.

Get PowerFleet, Inc. alerts

New 13F filings, insider trades, and analyst moves on $AIOT, sent to your inbox. Free, and you can unsubscribe anytime.

Related Filing Alerts

This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.