Samsara price target raised to $44 from $40 at BMO Capital

BMO Capital raised the firm’s price target on Samsara to $44 from $40 and keeps a Market Perform rating on the shares after its Q2 earnings beat and guidance raise. The company delivered solid top-line and bottom-line results, with growth in the core telematics and vehicle safety segments seen as “healthy”, the analyst tells investors in a research note. The initial feedback on new product innovations like Asset Tags and Connected Workflows also appear to be attractive opportunities to expand customer relationships over time, BMO added, noting that while the firm remains at neutral, its bias on the stock “tilts favorably”.