Powerfleet Inc.: Barrington Reaffirms Buy Rating After Earnings - Analyst Sees 217% Upside Potential

Powerfleet Inc. (AIOT) (i.) is a leading company in the fleet management and telematics sector. The company was able to announce a strong report for the first quarter and also a raise in revenue forecast before the market opened on August 11. Specifically, revenue in the first quarter increased by 38% year-over-year to $104.1 million. This growth was primarily driven by a strong increase in service revenue, which rose by 6% compared to the previous quarter to $86.5 million. The service segment now accounts for a record 83% of total revenue, underscoring...