BNP Paribas Exane raised its price target on Samsara to $55 from $40 on September 4, maintaining an Outperform rating, after the company reported fiscal second-quarter revenue growth of 30% to $508.4 million, beating analyst expectations of $483 million. Annual recurring revenue climbed 30% to $2.13 billion, adjusted earnings per share came in at $0.20 versus a consensus estimate of $0.16, and the company added 242 customers contributing at least $100,000 in ARR along with 20 customers contributing more than $1 million. Samsara raised its full-year revenue outlook to a range of $2.04 billion to $2.05 billion from a previous range of $2.005 billion to $2.013 billion, and lifted adjusted EPS guidance to $0.76 to $0.78 from $0.70 to $0.72. The new $55 price target is based on a valuation assumption of 13 times calendar-year 2027 sales, up from 10 times sales under the previous $40 target, though BNP Paribas Exane expects net new ARR growth to moderate in the near term as comparisons get tougher. Hedge fund holdings in Samsara declined to 40 funds in the second quarter from 45 in the first quarter, but BAMCO Inc. increased its stake 54% to 7.9 million shares, Balyasny Asset Management raised its position 492% to 3.1 million shares, and Freestone Grove Partners boosted its stake 34% to 2.9 million shares, while short interest stood at 28.7 million shares, or 7.59% of the public float, as of August 14.
Samsara IncBNP Paribas Exane raised its Samsara price target to $55 from $40 after Q2 revenue grew 30% and guidance was lifted.
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