- Giugno 5, 2023
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
During the recently reported quarter, Samsara stated that its ending ARR of $856.2 million reflects 41% year-over-year growth. Further, in Q1, Samsara added a record 138 large customers, bringing the total to 1,375 customers with more than $100K in ARR.
It delivered revenues of $204.3 million in Q1, up 43% on a year-over-year basis. Further, its adjusted net loss of $0.02 per share improved compared to the prior-year period.
Following the Q1 financials, BMO Capital analyst Daniel Jester increased IOT’s price target to 23. On June 2, Jester highlighted the continued strength in the company’s ARR growth. However, he maintained a Hold rating on IOT stock due to its expensive valuation.
Along with Jester, Piper Sandler analyst James Fish raised IOT’s price target to $23 following the Q1 earnings report. However, he remains sidelined on the stock, citing valuation concerns.
Is Samsara Stock a Good Buy?
Samsara’s business remains strong with continued growth in is large customer base. However, the stock has rallied quite a lot, driving its valuation higher, which keeps analysts cautiously optimistic.
Samsara stock has four Buy and five Hold recommendations, translating into a Moderate Buy consensus rating. Meanwhile, analysts’ average price target of $24.11 implies 0.82% downside potential.