PowerFleet, Inc. (NASDAQ:AIOT) is among the best low priced stocks to get rich in 2026. On June 16, Raymond James cut the price target on PowerFleet, Inc. (NASDAQ:AIOT) to $7, down from $8. This comes despite the company’s Q4 results surpassing expectations and a strengthened FY27 outlook pointing to stronger growth and profitability into year-end.
As noted by Raymond James, the improved performance will be driven by various factors, including solid subscription-based services growth, surging annual recurring revenue, and enhanced adoption. The firm has an Outperform rating on the stock.
Moreover, accelerating demand for AI video and in-warehouse solutions, along with channel growth and margin expansion, point to the same positive, bigger-picture trend, the firm added. Thanks to these drivers, PowerFleet, Inc. (NASDAQ:AIOT) is one of the best low-priced stocks to get rich in 2026.
In PowerFleet, Inc.’s (NASDAQ:AIOT) results delivered a day earlier, total revenue and adjusted EBITDA were up 11% YoY and 42% YoY, respectively, in Q4. The company remains focused on investments in go-to-market capabilities, channel partnerships, and South African deployment.
PowerFleet, Inc. (NASDAQ:AIOT) is a New Jersey-based provider of artificial intelligence-of-things (AIoT) solutions. Founded in 1993, the company provides a unity solution portfolio, as well as hosting, maintenance, and consulting services.
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.
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