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.

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