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Investing.com - Wolfe Research raised its price target on Samsara Inc (NYSE:IOT) to $50.00 from $45.00 on Thursday, while maintaining an Outperform rating on the stock. The new target sits well within the current analyst range of $36.80 to $60.00 for the $22.93 billion market cap company. According to InvestingPro data, the stock currently trades at $38.65.
The firm cited increased confidence in Samsara’s high-growth durability and management stability following the company’s analyst day. This confidence appears well-founded, with the company achieving impressive 31.72% revenue growth and maintaining strong gross margins of 76.65%. Wolfe Research highlighted Samsara’s product expansion across core offerings, edge devices, and AI integration, including multi-camera systems, routing capabilities, wearables, and safety features.
Wolfe’s survey data revealed that 78% of respondents expressed interest in adopting new Samsara solutions over the next 12 to 24 months. The survey also showed 42% of respondents already using Samsara’s Asset Tag product, with another 22% planning to adopt it.
The research firm noted that 24% of survey respondents plan to adopt Samsara’s newly launched beeper product. Additionally, 82% of customers surveyed indicated that potential tariffs would have no impact on their Samsara implementations.
Samsara’s expansion into safety products appears well-timed, as Wolfe Research observed a spike in customers from the construction vertical. The firm described Samsara as "one of the most durable high-growth software companies" in its coverage universe.
In other recent news, Samsara Inc. has been the focus of several analyst reports and company announcements. Goldman Sachs reiterated a Buy rating with a $46.00 price target, citing Samsara’s shift to an AI-first platform and its potential to sustain over 30% annual recurring revenue (ARR) growth. Evercore ISI maintained an In Line rating with a $45.00 price target, highlighting Samsara’s product innovation and strong customer service as key growth drivers. William Blair reiterated an Outperform rating, emphasizing the company’s market opportunity and high customer satisfaction. Samsara recently introduced new AI-powered solutions to enhance safety and efficiency, including AI Multicam and a wearable device for frontline workers. The company has also partnered with HappyRobot to integrate AI voice solutions into its platform. Piper Sandler maintained an Overweight rating with a $53.00 price target, identifying asset tags as a major growth opportunity with a potential $5 billion market. Samsara’s Beyond 2025 event is expected to showcase additional product launches, which could act as a catalyst for the stock.
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