Samsara price target raised to $47 from $40 at RBC Capital

RBC Capital raised the firm’s price target on Samsara to $47 from $40 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company delivered a strong finish to the year, highlighted by 39% annual recurring revenue, ARR, growth reflecting record new net ARR along with solid momentum in large customer growth, the analyst tells investors in a research note. RBC adds it was “pleased to see” another quarter of clean execution by Samsara as the company further taps into its large market opportunity.