RBC Capital raised the firm’s price target on Samsara (IOT) to $41 from $35 and keeps an Outperform rating on the shares. The company reported strong results, highlighted by its 30% annualized recurring revenue growth that accelerated slightly from last quarter, the analyst tells investors in a research note. Strength was broad-based, with keys around larger customers and emerging products, RBC adds.
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Read More on IOT:
- Samsara price target raised to $44 from $40 at BMO Capital
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- Samsara price target raised to $41 from $36 at Goldman Sachs
- Samsara: Strong FY Results, Accelerating ARR, and Conservative Long-Term Outlook Underpin Buy Rating
- Samsara price target raised to $39 from $37 at Piper Sandler