Samsara Inc. (NYSE:IOT) is one of the best growth stocks under $50 to buy now. On September 8, Morgan Stanley raised the firm’s price target on Samsara Inc. (NYSE:IOT) to $53 from $50, keeping an Equal Weight rating on the shares.
The firm told investors that net new ARR rose by 19% year-over-year in Q2 in constant currency, rising meaningfully from 7% in Q1. It, however, added that the sustainability of this growth will be “the main question going forward.”
Samsara Inc. develops internet-connected sensor systems, combining wireless connectivity, plug-and-play sensors, and cloud-hosted software integrated for deployment. The company offers AI-powered safety programs that train and protect employees.
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This article is originally published at Insider Monkey.
