Samsara Inc (IOT) PT Raised at Piper Sandler, Reflecting Comp Reduction

Piper Sandler analyst James Fish raised the price target on Samsara Inc (NYSE: IOT) to $53.00 (from $47.00) while maintaining a Overweight rating.

The analyst commented: "Following Samsara's analyst day intra-quarter, we are out with another volume of our "TTT" that looks at macro and micro-specific datapoints for Samsara and the transportation industry. High-correlation inputs point to ~$390M of revenue or 4.5-5% upside this quarter. Macro-inputs continue to be more mixed, with some showing signs of improvement. Additionally, job postings skew positively, conversations at Samsara's user-conference and with competitors pointed towards durable budgets, and interest in suites (including Asset Tags). The inputs point to ~$100M NNARR, meaning +10% Y/Y NNARR growth and 0.5-1% ARR beat for FQ2. Regarding guide, mgmt. has a long history, including F2Q25, of raising annual-guide by the FQ2 beat + $6M, implying an annual guide-raise to 26% from 24%. We continue to see durable >20% growth over the next few years, and still favor IOT in our coverage, but are lowering our PT to $47 given comp reduction in the <25% cohort."

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Fuerte changes name to Talamore Mining, shares to trade as TALA
• Nomura/Instinet Downgrades T&D Holdings Inc (8795:JP) (TDHOY) to Neutral