Analyst Derrick Wood of TD Cowen maintained a Buy rating on Samsara, reducing the price target to $46.00.
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Derrick Wood’s rating is based on several positive indicators for Samsara’s performance. The company is expected to deliver a strong second quarter, overcoming previous challenges related to deal slippage. The sales headcount has shown consistent growth, and feedback from Samsara’s conference in June was favorable, suggesting a constructive outlook.
Additionally, Samsara’s introduction of new products and strong customer adoption, particularly in asset tagging, indicate potential for future growth. Despite a slight decrease in the price target due to sector valuation pressures, the company’s stable growth in revenue and ARR, along with positive industry conversations, support the Buy rating. Wood acknowledges potential uncertainties with tariffs but remains optimistic about Samsara’s ability to maintain consistent execution and stock support.
In another report released on August 12, RBC Capital also maintained a Buy rating on the stock with a $44.00 price target.
Based on the recent corporate insider activity of 238 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IOT in relation to earlier this year.