Guggenheim 首次覆盖 Samsara 并给予买入评级和 45 美元目标价

Guggenheim began coverage of Samsara (IOT) with a Buy rating and a $45 price target.
Shares of Samsara rose about 1% premarket on Thursday.
Analysts led by Tamjid Chowdhury said that Samsara launched in 2015 as a cloud Industrial IoT (IIoT) provider just as the Federal Electronic Logging Device mandate took effect, giving it early momentum as transportation companies scrambled for solutions.
However, the analysts noted that Samsara's real achievement lies not in timing but in execution, rapidly expanding beyond its regulatory starting point to serve fleet operators across diverse verticals. After Fleet Telematics, the company moved into video safety, addressing critical pain points for fleet operators, such as fuel costs, safety outcomes, insurance premiums, and regulatory compliance. Substantial greenfield opportunity remains in both products as Samsara expands internationally into underpenetrated markets, the analysts added.
The analysts said that beyond vehicles, the company has expanded into physical asset management with offerings for tracking and monitoring equipment and employee safety.
"This is critical to the company's vision of providing customers holistic visibility across their entire physical estate through its Connected Operations Cloud. We also believe AI benefits, rather than threatens, IOT's asset-based pricing model, as it brings the company's prior multi-year investments in AI/ML to the forefront at a time when enterprises seek practical AI use cases with demonstrable ROI," said Chowdhury and his team.
The analysts also believe Samsara has a considerable moat against AI obsolescence.
"Fundamentally, we see meaningful upside to both near-term and long-term consensus estimates even if business momentum moderates over the next few years. Taken together, we view the current stock price as a good entry point," said the analysts.