Samsara Analysts Increase Their Forecasts Following Better-Than-Expected Q3 Earnings

Samsara, Inc. (NYSE:IOT) posted upbeat third-quarter results on Thursday.

Samsara reported quarterly earnings of 15 cents per share, which beat the analyst estimate of 12 cents. Quarterly revenue of $415.98 million beat the Street estimate of $398.47 million and was up from revenue of $321.98 million from the same period last year.

"Samsara had another strong quarter of durable and efficient growth, ending Q3 with $1.75 billion in ARR," said Sanjit Biswas, CEO of Samsara. "Our momentum is driven by our partnership with some of the world's largest and most complex physical operations organizations."

ServiceTitan shares rose 15.6% to trade at $47.07 on Friday.

These analysts made changes to their price targets on Samsara following earnings announcement.

• BMO Capital analyst Daniel Jester maintained Samsara with an Outperform rating and raised the price target from $47 to $50.
• B of A Securities analyst Matt Bullock maintained the stock with a Buy and raised the price target from $53 to $55.
• RBC Capital analyst Matthew Hedberg maintained Samsara with an Outperform rating and raised the price target from $46 to $50.
• JP Morgan analyst Alexei Gogolev maintained the stock with a Neutral and raised the price target from $46 to $48.
• Wells Fargo analyst Michael Turrin maintained Samsara with an Overweight rating and raised the price target from $50 to $52.
• TD Cowen analyst J. Derrick Wood maintained the stock with a Buy and raised the price target from $49 to $55.
• Piper Sandler analyst James Fish maintained Samsara with an Overweight rating and raised the price target from $48 to $49.

Considering buying IOT stock? Here’s what analysts think:

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