Samsara (NYSE:IOT) PT Raised to $40.00

Samsara (NYSE:IOT) had its price objective increased by Piper Sandler from $36.00 to $40.00 in a research report report published on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on IOT. Evercore ISI boosted their target price on Samsara from $40.00 to $42.00 and gave the stock an in-line rating in a research report on Friday. StockNews.com cut shares of Samsara from a hold rating to a sell rating in a research note on Wednesday, August 21st. Royal Bank of Canada increased their target price on shares of Samsara from $47.00 to $49.00 and gave the company an outperform rating in a report on Friday. BMO Capital Markets boosted their price target on shares of Samsara from $40.00 to $44.00 and gave the stock a market perform rating in a research note on Friday. Finally, Bank of America raised their price objective on Samsara from $45.00 to $47.00 and gave the company a buy rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Samsara has a consensus rating of Moderate Buy and an average target price of $42.07.

Samsara Price Performance

IOT stock opened at $46.14 on Friday. The firm has a 50 day simple moving average of $38.34 and a two-hundred day simple moving average of $36.18. The stock has a market cap of $25.41 billion, a PE ratio of -92.28 and a beta of 1.50. Samsara has a one year low of $21.48 and a one year high of $46.22.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.58%. The company had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, research analysts expect that Samsara will post -0.39 EPS for the current fiscal year.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 9,471 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $37.79, for a total transaction of $357,909.09. Following the completion of the transaction, the insider now owns 465,967 shares in the company, valued at $17,608,892.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Samsara news, Director Marc L. Andreessen sold 277,484 shares of Samsara stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $37.79, for a total value of $357,909.09. Following the completion of the transaction, the insider now directly owns 465,967 shares of the company’s stock, valued at approximately $17,608,892.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,683,696 shares of company stock worth $60,945,238. 60.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Samsara

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 buying an additional 490 shares during the period. Quarry LP purchased a new position in Samsara during the 4th quarter valued at about $37,000. National Bank of Canada FI bought a new stake in Samsara during the second quarter worth about $38,000. Montag A & Associates Inc. grew its holdings in Samsara by 1,200.0% in the fourth 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 during the period. Finally, Nemes Rush Group LLC bought a new position in shares of Samsara during the second quarter valued at approximately $45,000. 89.39% of the stock is 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.