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.

Why Samsara Inc. (IOT) Crashed On Friday

A data analyst wearing virtual reality goggles while analyzing on-board telematics.

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 to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IOT and that has 100x upside potential, check out our report about this cheapest AI stock.

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