On Dec 07, major Wall Street analysts update their ratings for $Samsara (IOT.US)$, with price targets ranging from $56 to $57.
Morgan Stanley analyst Keith Weiss maintains with a hold rating, and adjusts the target price from $40 to $56.
BofA Securities analyst Matt Bullock maintains with a buy rating.
BMO Capital analyst Daniel Jester maintains with a hold rating, and adjusts the target price from $44 to $57.
Truist Financial analyst Junaid Siddiqui maintains with a hold rating.
Craig-Hallum analyst Richard Shannon initiates coverage with a hold rating.
Furthermore, according to the comprehensive report, the opinions of $Samsara (IOT.US)$'s main analysts recently are as follows:
Samsara exhibited strong performance during Q3, demonstrating robust growth, better operational efficiency, and enhanced cash generation capabilities. However, the weaker-than-expected new annual recurring revenue growth and a somewhat cautious Q4 revenue outlook in light of high market expectations might lead to a tapering off of the recent stock gains. The potential incorporation of emerging AI applications leveraging Samsara's advanced computer vision technology could continue to drive momentum following other recent product launches such as Asset Tags and Connected Forms.
Samsara delivered a clean third-quarter result, but there is an expectation of near-term market concerns due to the unchanged guidance for the fourth quarter, despite previous quarter overperformance and valuation multiples, according to an analyst.
The company is anticipated to surpass its revenue forecast of $311M, which is at the upper end of its guidance. This optimism is rooted in the recent business momentum, encouraging signs observed during industry checks this quarter, and discussions prior to the quiet period. Additionally, the upcoming Q3 results are expected to showcase key growth drivers, such as a strategic move upmarket, robust performance in 'frontier markets,' considerable momentum from large customers, new client acquisitions, international expansion, and margin improvements.
Here are the latest investment ratings and price targets for $Samsara (IOT.US)$ from 5 analysts:
Note:
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