Samsara price target raised to $46 from $42 at Loop Capital

Loop Capital raised the firm’s price target on Samsara to $46 from $42 and keeps a Buy rating on the shares. The firm cites the company’s “strong” Q2 results as revenue grew 37% and annual recurring revenue andvanced 36%, with the management also offering robust FY25 guidance while raising the full fiscal year revenue outlook from 29% to 31% y/y growth, the analyst tells investors in a research note. Samsara is a long-term beneficiary of the technology awakening and digital transformation initiatives sweeping across asset-intensive industries as well as the company’s leading data platform that is being driven by its strong new customer growth and solid execution, Loop added.