PowerFleet, Inc (AIOT) PT Lowered to $8 at Lake Street Capital Markets

Lake Street Capital Markets analyst Jaeson Schmidt lowered the price target on PowerFleet, Inc (NASDAQ: AIOT) to $8.00 (from $11.00) while maintaining a Buy rating.

The analyst commented: "We think PowerFleet is seeing broad-based softness from the macro environment. We do not believe the Company is seeing cancellations but think pushouts and elongated sales cycles are creating near-term headwinds. Additionally, we believe tariffs will likely have a slight impact on gross margin. We are encouraged the Company realized an $11M benefit
from the $16M in annual cost synergies in FY25 and look for continued cost synergies going forward. While we like PowerFleet’s long-term outlook, we think FY26 is setting up to be more 2H-weighted than originally anticipated. The Company will report full FY4Q results on June 16th. We are reiterating our Buy rating but lowering our price target to $8."

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