Loop Capital starts Samsara at Buy on AI, machine learning exposure

Loop Capital initiated coverage of Samsara with a Buy rating and $42 price target. The analyst views Samsara as a way to play the artificial intelligence, machine learning, big data, and internet of things technology themes with a focus on asset-intensive industries likes trucks on the road, assets in the field, and production facilities. These industries, which historically have been notorious technology laggards, represent an “enormous market that is undergoing a technology awakening and digitizing rapidly,” the analyst tells investors in a research note. Loop thinks Samsara is poised to be a leader in the “massive digitalization effort” in these markets.