Samsara Reports Strong Q2 Results, Analysts Raise Price Targets Despite Mixed Sentiment
On September 3, 2026, Samsara Inc. (NYSE:IOT) reported second-quarter fiscal year 2027 results showing revenue of $508.4 million, a 30% increase from the prior year. Annual recurring revenue surpassed $2.1 billion at similar growth rates, and GAAP net income reached $0.03 per share for the fourth consecutive profitable quarter. The company added record numbers of large customers and is expanding into AI-powered dash cameras in an underpenetrated market. Twelve analysts raised their price targets on Samsara following these results, with ratings ranging from Outperform to Overweight. RBC Capital, BofA, Evercore ISI, KeyBanc, and Cantor Fitzgerald highlighted strong performance across large customers, emerging products, international expansion, and AI initiatives as key drivers of optimism. However, Truist, JPMorgan, Morgan Stanley, Piper Sandler, and others maintained cautious stances with Hold or Neutral ratings despite acknowledging the company's durable growth. CFO Dominic Phillips noted that free cash flow margins are expected to decline slightly due to increased IoT device demand, inventory buildup, and supply chain costs. Guidance for Q3 revenue shows a slowdown in growth from 30% to 24%, with full-year guidance at 26%. Institutional investors like BAMCO Inc. and Balyasny Asset Management significantly increased their holdings during the second quarter.
Tickers: $IOT
Topics: analyst ratings IOT price targets revenue growth Samsara