Piper Sandler lowered the firm’s price target on Samsara (IOT) to $47 from $53 and keeps an Overweight rating on the shares. The firm notes high-correlation inputs point to $390M of revenue or 4.5-5% upside this quarter. Macro-inputs continue to be more mixed, with some showing signs of improvement. Additionally, job postings skew positively, conversations at Samsara’s user-conference and with competitors pointed towards durable budgets, and interest in suites, Piper adds.
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