Piper Sandler Lowers PT on Samsara Inc. (IOT) to $47 From $53, Keeps an Overweight Rating

Samsara Inc. (NYSE:IOT) is one of the most promising future stocks according to Wall Street analysts. Piper Sandler lowered the firm’s price target on Samsara Inc. (NYSE:IOT) to $47 from $53 on August 7, keeping an Overweight rating on the shares.

The firm told investors that the high-correlation inputs suggest $390 million of revenue or 4.5-5% upside this quarter. It added that the macro-inputs are continually mixed, but some are exhibiting signs of improvement.

Piper Sandler also stated that job postings skew positively, with conversations at Samsara Inc.’s (NYSE:IOT) user conference and with competitors pointing towards durable budgets and interest in suites.

Samsara Inc. (NYSE:IOT) develops internet-connected sensor systems, combining wireless connectivity, plug-and-play sensors, and cloud-hosted software integrated for deployment. The company offers AI-powered safety programs that train and protect employees.

While we acknowledge the potential of IOT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.