Samsara price target raised to $52 from $50 at Wells Fargo

Wells Fargo raised the firm’s price target on Samsara (IOT) to $52 from $50 and keeps an Overweight rating on the shares. The company posted its 2nd straight quarter of net new annual recurring revenue acceleration at 23% in constant currency, driven by record $100K+ adds and new products, the analyst tells investors in a research note. Samsara has also achieved its first quarter of GAAP profitability, the firm added.