Samsara (NYSE:IOT) Price Target Raised to $49.00 at Royal Bank of Canada

Samsara (NYSE:IOT) had its target price lifted by Royal Bank of Canada from $47.00 to $49.00 in a research note published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

IOT has been the topic of a number of other research reports. Loop Capital reiterated a buy rating and set a $42.00 price objective on shares of Samsara in a research report on Friday, June 28th. Piper Sandler reaffirmed a neutral rating and set a $36.00 price target on shares of Samsara in a research note on Friday, June 28th. BMO Capital Markets increased their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a market perform rating in a research report on Friday. Bank of America boosted their target price on Samsara from $45.00 to $47.00 and gave the company a buy rating in a research report on Friday. Finally, Wolfe Research reaffirmed an outperform rating and set a $44.00 target price on shares of Samsara in a research note on Friday, June 28th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $42.07.

Samsara Trading Up 13.5 %

Shares of Samsara stock opened at $43.98 on Friday. Samsara has a 12 month low of $21.48 and a 12 month high of $45.43. The stock has a 50 day moving average of $38.12 and a 200 day moving average of $36.03. The firm has a market cap of $24.22 billion, a PE ratio of -87.96 and a beta of 1.50.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) EPS. As a group, equities research analysts forecast that Samsara will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Samsara

In other news, insider John Bicket sold 93,212 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the transaction, the insider now owns 76,800 shares in the company, valued at $3,065,856. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider John Bicket sold 93,212 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the transaction, the insider now directly owns 76,800 shares in the company, valued at $3,065,856. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $29.78, for a total transaction of $2,858,880.00. Following the completion of the transaction, the chief executive officer now directly owns 1,392,712 shares of the company’s stock, valued at approximately $41,474,963.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,801,854 shares of company stock valued at $64,479,185. 60.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Samsara

A number of hedge funds have recently made changes to their positions in the stock. Resources Management Corp CT ADV lifted its position in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after acquiring an additional 490 shares during the last quarter. Quarry LP acquired a new position in shares of Samsara during the fourth quarter worth $37,000. National Bank of Canada FI purchased a new stake in shares of Samsara during the 2nd quarter valued at $38,000. Montag A & Associates Inc. boosted its position in shares of Samsara by 1,200.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new stake in shares of Samsara in the 2nd quarter worth $45,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

About Samsara

Samsara Inc provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy.