Samsara ( (IOT) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Samsara’s stock took a significant hit, dropping by 17.8%, despite an upgrade from Piper Sandler to Overweight with a $50 price target. The decline was driven by concerns over the company’s ability to maintain its growth amidst market volatility affecting tech stocks. As a result, several analysts, including Truist, TD Cowen, Craig-Hallum, and RBC Capital, lowered their price targets, reflecting apprehensions about the company’s future performance.
More about Samsara
YTD Price Performance: -19.62%
Average Trading Volume: 3,483,244
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $19.84B
For further insights into IOT stock on TipRanks’ Stock Analysis page.
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