BMO Capital analyst Daniel Jester raised the firm’s price target on Samsara (IOT) to $50 from $47 and keeps an Outperform rating on the shares. After some choppiness from the macro earlier this year, Samsara showed strong form with net new annual recurring revenue growth better than expected and solid margin expansion again in Q3, the analyst tells investors in a research note. Momentum in large enterprise persists, while new verticals emerge to support consistently strong ones like construction, and new product adoption is solid, the firm added.
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