Neha Gupta
2 min read
In This Article:
Samsara Inc. (NYSE:IOT) has moved to capitalize on the growing demand for solutions with adequate capabilities to enhance customer support. On May 20, the company unveiled the AI-powered platform Upgrade for Smarter Operations, allowing organizations to operate safer and smarter in any climate. The AI-powered solution provides actionable insights that improve safety, efficiency, and decision-making across various operations.
Pixabay/Public Domain
Additionally, customers can rely on the Samsara solution for mission-critical operations to benefit from secure, scalable, and flexible technology. The solution is trained on more than 14 trillion data points to provide better insights. Additionally, the company’s customers have saved over 1.3 million metric tons of C02 by leveraging the platform’s features for efficient fuel use.
The unveiling of the AI-powered solution for enhancing customer support comes when Samsara's revenues have been rising faster than most companies. Consequently, Piper Sandler analyst James Fish has increased the stock’s price target to $53 while reiterating an Overweight rating. According to the analyst, current metrics signal a possible 4% spike in revenue in the current quarter to about $363 million. Samsara's app downloads already suggest more than a 5% revenue increase as the growth aligns with over 33.26% revenue growth in recent quarters.
While we acknowledge the potential of Samsara Inc. (NYSE:IOT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IOT and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None.
