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Investing.com - Piper Sandler has raised its price target on Samsara Inc (NYSE:IOT) to $53.00 from $47.00 while maintaining an Overweight rating on the stock. The company, currently valued at $20.9 billion, appears overvalued according to InvestingPro analysis, though it maintains impressive gross profit margins of nearly 77%.
The research firm’s analysis points to potential revenue of approximately $390 million for the current quarter, suggesting a possible 4.5-5% upside from previous expectations. Macro-economic indicators for the transportation industry show mixed results, with some signs of improvement. This aligns with the company’s strong revenue growth trajectory, as InvestingPro data shows a 31.7% year-over-year increase in the last twelve months.
Job postings for Samsara trend positively, and the firm noted that conversations at Samsara’s user conference and with competitors indicated durable customer budgets and interest in the company’s suite of products, including Asset Tags.
Piper Sandler projects Net New Annual Recurring Revenue (NNARR) of approximately $100 million, representing 10% year-over-year NNARR growth and a potential 0.5-1% Annual Recurring Revenue (ARR) beat for the second fiscal quarter.
The firm expects Samsara management to raise annual guidance from 24% to 26%, based on the company’s historical pattern of increasing guidance by the fiscal second quarter beat plus $6 million, and forecasts durable growth exceeding 20% over the next few years. Analysts broadly support this optimistic outlook, with 15 analysts recently revising their earnings estimates upward. For deeper insights and additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Samsara Inc has been the focus of several analyst updates following its Beyond 2025 event and annual investor day. Wolfe Research raised its price target for Samsara to $50, up from $45, while maintaining an Outperform rating, citing confidence in the company’s growth durability and management stability. Goldman Sachs reiterated its Buy rating with a $46 price target, expressing optimism about Samsara’s transition to an AI-first, multi-product operations platform and its potential to sustain over 30% ARR growth. Truist Securities maintained its Hold rating and a $42 price target, noting the company’s innovation pace and its position to benefit from digitization trends. Evercore ISI also maintained its In Line rating with a $45 price target, highlighting Samsara’s extensive product innovation and growth trajectory. William Blair reiterated its Outperform rating, emphasizing the market opportunity for connected operations digitization, driven by efficiency, safety, and sustainability improvements. These developments reflect analysts’ varied perspectives on Samsara’s strategic direction and market potential.
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