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Investing.com - Truist Securities raised its price target on Samsara Inc (NYSE:IOT) to $39.00 from $35.00 on Friday, while maintaining a Hold rating on the stock. The new target sits at the lower end of Wall Street’s range, with analyst targets spanning from $38 to $60. According to InvestingPro data, the stock currently trades at $35.84.
The price target increase follows Samsara’s quarterly results, which exceeded the high end of guidance for both revenue and operating margin. The company reported annual recurring revenue (ARR) growth of 29.8% year-over-year to $1.640 billion, surpassing consensus estimates of $1.624 billion. With an impressive gross profit margin of 76.94% and overall revenue growth of 30.32%, the $20.22 billion market cap company continues to show strong operational execution.
Net new ARR increased 18.6% year-over-year, marking a significant reacceleration from the previous quarter’s 5.2% growth. Truist attributed this improvement to deals that were pushed from Q1 closing in Q2, along with momentum among large customers.
Truist expressed encouragement regarding Samsara’s traction with large customers and strong performance in both new logo acquisition and expansion metrics. The firm noted these positive developments in its analysis supporting the price target increase.
Despite the improved outlook, Truist maintained its Hold rating on Samsara stock, citing caution about tougher comparisons expected in the second half of 2026. Based on InvestingPro’s Fair Value analysis, the stock currently appears to be trading above its intrinsic value, though analysts expect the company to become profitable this year.
In other recent news, Samsara Inc has seen several updates from analysts regarding its financial performance and stock outlook. RBC Capital raised its price target for Samsara to $46, citing strong second-quarter results with 30% annual recurring revenue (ARR) growth and a 31% increase in revenue, as macroeconomic conditions improved from first-quarter tariff issues. TD Cowen also increased its price target to $49, highlighting Samsara’s "impressive rebound quarter" after earlier disruptions due to tariff concerns. Meanwhile, Piper Sandler adjusted its price target to $48, noting a re-acceleration in Net New Annual Recurring Revenue (NNARR) that surpassed expectations. BMO Capital, however, lowered its target to $47 from $54, while still maintaining an Outperform rating, acknowledging Samsara’s effective navigation of the challenging tariff environment with significant ARR growth. William Blair reiterated an Outperform rating, attributing the stock’s positive movement to accelerated net new ARR momentum and sustained operating performance. These developments reflect the varied perspectives of analysts on Samsara’s recent financial achievements and future potential.
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