Samsara price target raised to $40 from $35 at BMO Capital

BMO Capital raised the firm’s price target on Samsara to $40 from $35 and keeps a Market Perform rating on the shares. The company reported a stronger-than-expected quarter with accelerating net new ACV growth driven by ongoing momentum in enterprise, the analyst tells investors in a research note. Samsara also highlighted strength in the core with both telematics and vehicle safety annual recurring revenue growth accelerating, along with positive datapoints on international and new products, the firm added.