13 Best Strong Buy Stocks to Invest in Right Now

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6. Samsara Inc. (NYSE:IOT)

Analyst Upside: 47.41%

Number of Hedge Fund Holders: 42

Samsara Inc. (NYSE:IOT) is one of the best strong buy stocks to invest in right now. Samsara Inc. (NYSE:IOT) was initiated with a Buy rating and $55 price target by BTIG on December 16, with the firm telling investors that despite scaling to $1.7 billion in annual recurring revenue, the company remained one of the fastest-growing software companies. BTIG considers Samsara Inc. (NYSE:IOT) to be a leader in a highly attractive end-market linked to operational budgets, with it continually gaining market share. With a considerably sized total addressable market, the firm sees efficient and durable growth continuing over the medium term.

In addition to BTIG, KeyBanc also initiated coverage of Samsara Inc. (NYSE:IOT) on December 10 with an Overweight rating and a $55 price target. The firm stated that it believes the company’s end-to-end platform for operations is in a suitable position for addressing the $45 trillion “physical operations” industry, adding that Samsara Inc. (NYSE:IOT) boasts “multiple avenues” to sustain and pursue premium growth for the long-term. The firm considers the stock’s current valuation discount to peers to be warranted, provided its ability to sustain premium growth.

Samsara Inc. (NYSE:IOT) also received a rating update from TD Cowen on December 5, with the firm lifting the price target to $55 from $49 while reaffirming a Buy rating on the shares. The firm told investors that it considers Samsara Inc. (NYSE:IOT) to be a top software executor, reporting a solid quarter with impressive momentum and considerable new growth unlocked and taking hold, and thus continues to see strong beat and raise motions in the future in a backdrop of steady execution.

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.

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