Samsara price target raised to $39 from $37 at Piper Sandler

Piper Sandler raised the firm’s price target on Samsara (IOT) to $39 from $37 and keeps an Overweight rating on the shares. The firm notes shares were up over 10% after-hours as NNARR came in well-above expectations upon another quarter of acceleration, which this along with the current pipeline has given management confidence to raise the guide by about 3% compared to the prior “de-risked” setup. Even with this raise, Piper still sees guide as conservatively setup and Samsara well-positioned within this market to cross-sell into its installed base and land new customers across multiple verticals and geographies.