Samsara Analysts Boost Their Forecasts Following Upbeat Q2 Results

Samsara Inc IOT reported better-than-expected second-quarter financial results.

Samsara reported revenue growth of 43% Y/Y to$219.3 million, beating the consensus of $207.49 million. Non-GAAP EPS of $0.01 beat the consensus loss of $(0.02).

Samsara raised the FY24 revenue outlook to $896 million-$900 million from $866 million – $874 million (vs. consensus $872.82 million) and non-GAAP EPS to $0.00-$0.02 from a loss of $(0.02) – $0.00 (vs. consensus loss $(0.02)).

Samsara shares rose 12.9% to trade at $30.88 on Friday.

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

• BMO Capital increased the price target on Samsara from $27 to $28. BMO Capital analyst Daniel Jester maintained a Market Perform rating.
• Wells Fargo boosted the price target on Samsara from $31 to $32. Wells Fargo analyst Michael Turrin maintained an Overweight rating.
• RBC Capital raised the price target on Samsara from $32 to $34. RBC Capital analyst Matthew Hedberg maintained an Outperform rating.
• Morgan Stanley boosted the price target on Samsara from $23 to $25. Morgan Stanley analyst Keith Weiss maintained an Equal-Weight rating.

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