Samsara price target raised to $54 from $48 at BMO Capital

BMO Capital raised the firm’s price target on Samsara (IOT) to $54 from $48 and keeps an Outperform rating on the shares. The firm’s upgrade on the stock in March was rooted in expectation that the pullback following Q4 results was overdone against multiple opportunities to drive growth upside from new logos, expansions and deepening product penetration, the analyst tells investors in a research note. BMO adds that it expects solid execution in the quarter to translate to upside to estimates, even though its investor conversations continue to surface some worry regarding the latest period of macro-related volatility.