Samsara appoints former Splunk CEO Gary Steele to board of directors

SAN FRANCISCO - Samsara Inc. (NYSE:IOT), a provider of connected operations technology with a market capitalization of $19.09 billion and impressive revenue growth of 31.72% over the last twelve months, announced Thursday the appointment of Gary Steele to its Board of Directors. According to InvestingPro data, the company maintains strong gross profit margins of 76.65%.

Steele, currently Chief Executive Officer of defense technology company Shield AI, brings over 30 years of leadership experience in the technology industry. He previously served as President of Go-to-Market at Cisco, where he oversaw global sales, partner, and marketing organizations. The appointment comes as Samsara’s stock trades near its 52-week low, though InvestingPro analysis shows 15 analysts have revised their earnings estimates upward for the upcoming period.

Prior to Cisco, Steele was CEO of Splunk, where the company reports he led a business transformation that achieved revenue growth and expanded profitability. He was also the founding CEO of Proofpoint, guiding the security company from startup to publicly traded status over two decades.

"We’re excited to welcome Gary to our board," said Sanjit Biswas, CEO and co-founder of Samsara, in a press release statement. "His extensive experience growing and leading multiple companies across cybersecurity, enterprise software, and AI innovation will bring great value to Samsara as we continue to innovate."

Steele joins existing board members including Marc Andreessen, Todd Bluedorn, Sue Bostrom, Jonathan Chadwick, Alyssa Henry, Ann Livermore, Sue Wagner, and Samsara co-founders Sanjit Biswas and John Bicket.

Samsara describes itself as a pioneer of the Connected Operations Platform, which connects devices and systems of complex operations to develop insights and improve operations. The company serves customers across industries including transportation, construction, retail, field services, logistics, manufacturing, and government. For deeper insights into Samsara’s financial health and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks.

Steele currently serves on the Board of Directors at Upwork.

In other recent news, Samsara Inc is preparing to release its second-quarter earnings report, with TD Cowen predicting a strong performance despite lowering its price target to $46.00 due to tariff concerns. Piper Sandler has raised its price target for Samsara to $53.00, citing a strong revenue outlook and potential revenue of approximately $390 million for the current quarter. Meanwhile, Truist Securities maintained its Hold rating with a $42.00 price target, noting Samsara’s innovation and potential benefits from the digitization of physical operations. Wolfe Research increased its price target to $50.00, highlighting confidence in Samsara’s growth and product expansion, including AI integration and safety features. Goldman Sachs reiterated its Buy rating with a $46.00 price target, emphasizing Samsara’s growth outlook and evolution into an AI-first, multi-product operations platform. These developments reflect varied analyst perspectives on Samsara’s financial performance and future potential.

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