Piper ‘incrementally more positive’ on Samsara after investor day

Piper Sandler came away “incrementally more positive” around the value Samsara is driving and opportunities following its investor day. The “big game-changer” during the user conference was Asset Tag, which can “significantly move the needle” on Smart Monitoring that moves Samsara beyond “attaching” to a fleet and could become the largest business over the long-term at a higher margin, the analyst tells investors in a research note. The firm says the company continues to incorporate artificial intelligence into the platform, including around safety techniques and asset visibility. However, Piper keeps a Neutral rating on the shares with a $36 price target, awaiting a better entry point.