Evercore ISI Raises Samsara (IOT) PT to $50, Cites Ability to Exceed Expectations

Samsara Inc. (NYSE:IOT) is one of the best growth stocks to buy now. On October 1, Evercore ISI analyst Kirk Materne upgraded Samsara to Outperform from In Line with a price target of $50, up from $45. Evercore ISI believes that Samsara has a positive long-term future, citing its ability to exceed and raise financial expectations.

In the past month, Samsara reported its FQ2 2026 financial results, where the company’s ARR reached $1.6 billion, which was a 30% year-over-year increase. Customers with ARR of $100,000-plus accounted for 59% of the entire ARR.

Samsara also added a record 17 new customers with $1 million-plus ARR, which generated over 20% (~$350 million) of total ARR. The company’s Q2 revenue was $391 million, up 30% year-over-year. For Q3, Samsara expects revenue between $398 and $400 million, reflecting 24% growth.

Samsara Inc. (NYSE:IOT) provides solutions to connect physical operations data to its connected operations platform in the US and internationally.

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.