Wells Fargo analyst Michael Turrin raised the firm’s price target on Samsara (IOT) to $50 from $48 and keeps an Overweight rating on the shares. The firm notes Q1 NNARR was a touch light vs. elevated expectations but Samsara’s growth profile continues to stand out with ARR/revenue growing 30%-plus. Wells sees Samsara deserving of premium given rare cross-section of high-growth and high-quality vertical exposure.
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