Piper Sandler raised the firm’s price target on Samsara (IOT) to $53 from $44 and keeps an Overweight rating on the shares. The firm says that when examining high correlation datapoints through April, tracked metrics are pointing to at least $365M/+4% upside this quarter for Samsara, with the highest correlation metric pointing to +5%. However, macro-metrics are more mixed, with heavy duty trucks’ sales and the Cass Shipment Index declining to start the year but employment, Samsara’s own job postings, and tonnage trending better.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IOT:
- Samsara put volume heavy and directionally bearish
- Samsara price target lowered to $50 from $56 at Morgan Stanley
- Samsara price target lowered to $44 from $50 at Piper Sandler
- Samsara Announces Retirement of Chief Accounting Officer
- ‘Multi-Day Relief Rally Could Be Ahead’: BMO Recommends 2 Stocks to Buy Ahead of Potential Rebound