These Analysts Raise Their Forecasts On Samsara After Strong Q2 Results

Author: Avi Kapoor | September 06, 2024 09:17am

Samsara Inc. (NYSE:IOT) reported better-than-expected second-quarter financial results and raised its FY25 guidance on Thursday.

Samsara reported quarterly earnings of 5 cents per share which beat the analyst consensus estimate of 1 cent per share. The company reported quarterly sales of $300.20 million which beat the analyst consensus estimate of $289.54 million.

"We achieved another strong quarter of durable and efficient growth at a greater scale. Q2 ended at $1.264 billion in ARR, growing 36% year-over-year, and at a quarterly record non-GAAP operating margin," said Sanjit Biswas, co-founder and CEO of Samsara.

Samsara sees third-quarter revenue in the range of $309 million to $311 million. The company anticipates third-quarter adjusted earnings of 3 to 4 cents per share.

Samsara also raised its fiscal year 2025 guidance. The company now expects full-year revenue of $1.224 billion to $1.228 billion versus estimates of $1.213 billion. The company now expects full-year adjusted earnings to be between 16 and 18 cents per share versus estimates of 13 cents per share.

Samsara shares gained 0.2% to close at $38.75 on Thursday.

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

• B of A Securities analyst Matt Bullock maintained Samsara with a Buy and raised the price target from $45 to $47.
• BMO Capital analyst Daniel Jester maintained the stock with a Market Perform and raised the price target from $40 to $44.
• Piper Sandler analyst James Fish maintained Samsara with a Neutral and raised the price target from $36 to $40.
• Evercore ISI Group analyst Kirk Materne maintained the stock with an In-Line and raised the price target from $40 to $42.
• RBC Capital analyst Matthew Hedberg maintained Samsara with an Outperform and boosted the price target from $47 to $49.
• Wells Fargo analyst Michael Turrin maintained the stock with an Overweight and raised the price target from $42 to $46.

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