Craig-Hallum initiates Samsara with a Hold given valuation in weaking economy

As previously reported, Craig-Hallum initiated coverage of Samsara (IOT) with a Hold rating and $48 price target as the firm sees value in the long-term growth story but says current valuation levels in a weakening economy keep it on the sidelines for the time being. Craig-Hallum believes a pullback in shares should provide investors significant long-term value with one of the highest growth and market leading SaaS plays in the vehicle telematics space.