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.
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