Samsara Inc (IOT) PT Raised to $45 at Wolfe Research

Wolfe Research analyst Alex Zukin raised the price target on Samsara Inc (NYSE: IOT) to $45.00 (from $41.00) while maintaining a Outperform rating.

The analyst comments "IOT shares traded down ~12% following the F1Q26 earnings print, and including the AH move, shares YTD -5% compared to the IGV +4.5% and the S&P 500 +1.0%. After the AH move, IOT currently trades at ~12x CY26E Rev, a ~15% premium to Heavyweight Growth peers at ~11x vs. its one-year average premium of ~42%. For F1Q26, IOT reported ARR growth of 31% Y/Y (31% adj.) and NNARR growth of 5% Y/Y (8% adj.), with strong large customer momentum, adding 154 (160 under old definition) new >$100K ARR customers, which now represents 58% (56% under old definition) of total ARR. We believe the solid execution in F1Q continues to strengthen IOT's competitive positioning in a fragmented market, and that FY26 guidance embeds conservatism that supports a positive catalyst path ahead amid macro uncertainties. We reiterate our outperform rating. We value IOT on ~13.5x CY26E Rev to arrive at our $45 PT, a 25% premium to Heavyweight Growth Peers. We reiterate OP."

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