Samsara: Bullish new product launches

研报英文原文证据摘录

Samsara: Bullish new product launches

Accessible version

Samsara

Bullish new product launches

Maintain Rating: BUY | PO: 47.00 USD | Price: 31.24 USD

New products read positive for growth outlook 25 June 2026

We attended Samsara’s analyst day and customer conference and came away Equity

incrementally confident in the company’s growth outlook. While there were several

Matt Bullock

notable new product launches, the excitement regarding one was palpable – the Research Analyst

“Tracking Label.” Tracking Labels are sticker-like paper-thin tags that can be easily BofAS matthew.bullock2@bofa.com

attached to packages to provide real-time location data for parcel tracking from origin to

delivery. This is an entirely unique product offering, made possible only by the

company’s network of millions of connected hardware devices. We are bullish on the

potential for new products like the Tracking Label to drive upside to NNARR growth in Stock Data

2HFY27. We maintain our Buy rating and $47 PO, derived from a target CY2027E Price 31.24 USD

EV/Revenue/Growth multiple of 0.5x (11x EV/Revenue), a premium to the high-growth Price Objective 47.00 USD

software peer group at 0.3x and 7x, respectively, given Samsara’s durable long-term Date Established 6-Mar-2026

growth profile and enduring competitive position. Investment Opinion C-1-9

Tracking Label debut was underappreciated by Street 52-WeekMrkt Val (mn)Range/ Shares Out 23.3818,359USD USD- 47.47/ 587.7USD

Recall that the Asset Tag (see our deep-dive report) reached $10mn+ in ARR during the (mn)

first 12 months of availability. We see potential for the Tracking Label to surpass that Free Float 90.0%

mark with ease. Our conversations with customers indicate positive reception across Average Daily Value (mn) 210.25 USD

multiple use cases.