Truist Lowers Samsara (IOT) to $30, Maintains Hold Rating

We recently published an article titled 13 Best Internet of Things (IoT) Stocks to Buy Now.

On February 17, Truist lowered its price target on Samsara Inc. (NYSE:IOT) to $30 from $39 while maintaining a Hold rating as part of a broader fourth-quarter preview within the security software space. The firm noted that the broader narrative surrounding artificial intelligence disruption is likely to dominate earnings season, as investors differentiate between companies positioned to benefit from AI and those at risk. While Truist highlighted other security platforms as better positioned for near-term upside, the continued coverage reflects recognition of Samsara’s relevance within the evolving AI-enabled software landscape.

Samsara Inc. (NYSE:IOT) delivered a strong third quarter of fiscal 2026, reporting annual recurring revenue of $1.75 billion, representing 29% year-over-year growth, and adding a record 219 customers generating more than $100,000 in ARR. Product innovation remains central to the company’s strategy, with new AI-powered coaching tools and its AI Multicam solution gaining traction by improving safety outcomes and deepening customer engagement across its connected operations platform. Accelerating ARR growth, enterprise customer expansion, and AI-driven product adoption underscore durable demand trends and strengthen the long-term investment case despite short-term valuation adjustments.

Samsara Inc. (NYSE:IOT), headquartered in San Francisco and founded in 2015, is an Internet of Things company focused on telematics and data-driven insights for physical operations across logistics, construction, and fleet management.

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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