Samsara price target raised to $53 from $50 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Samsara (IOT) to $53 from $50 and keeps an Equal Weight rating on the shares. Net New ARR grew 19% year-over-year in Q2 in constant currency, accelerating meaningfully from 7% in Q1, though the sustainability of this growth will be “the main question going forward,” the analyst tells investors.