Samsara (NYSE:IOT) Earns Buy Rating from Loop Capital

Loop Capital reaffirmed their buy rating on shares of Samsara (NYSE:IOT) in a report released on Friday, Benzinga reports. The brokerage currently has a $42.00 price target on the stock.

IOT has been the topic of a number of other reports. BMO Capital Markets reaffirmed a market perform rating and set a $40.00 target price on shares of Samsara in a research report on Tuesday, June 11th. Bank of America began coverage on Samsara in a report on Thursday, June 20th. They issued a buy rating and a $37.00 target price for the company. StockNews.com upgraded Samsara from a sell rating to a hold rating in a research note on Saturday, May 25th. Evercore ISI lowered their price objective on shares of Samsara from $41.00 to $40.00 and set an in-line rating for the company in a research note on Friday, June 7th. Finally, Piper Sandler reissued a neutral rating and set a $36.00 target price (down previously from $41.00) on shares of Samsara in a research report on Friday, June 7th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $37.17.

Samsara Stock Performance

IOT opened at $33.70 on Friday. The stock’s 50 day moving average price is $35.02 and its 200-day moving average price is $34.26. Samsara has a one year low of $21.48 and a one year high of $42.28. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of -67.40 and a beta of 1.51.

Samsara (NYSE:IOT) last released its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $280.73 million for the quarter, compared to analyst estimates of $272.51 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. As a group, analysts predict that Samsara will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Samsara news, Director Marc L. Andreessen sold 277,484 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Samsara news, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.88, for a total transaction of $8,013,737.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.01, for a total transaction of $33,161.05. Following the sale, the chief accounting officer now owns 337,523 shares of the company’s stock, valued at $10,129,065.23. The disclosure for this sale can be found here. Insiders have sold a total of 1,686,053 shares of company stock worth $57,388,618 in the last ninety days. 60.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IOT. DekaBank Deutsche Girozentrale purchased a new stake in Samsara in the first quarter valued at approximately $362,000. Teachers Retirement System of The State of Kentucky lifted its stake in Samsara by 45.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 146,789 shares of the company’s stock valued at $5,547,000 after acquiring an additional 45,700 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Samsara by 6.8% in the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after acquiring an additional 497 shares during the last quarter. Washington Harbour Partners LP acquired a new stake in shares of Samsara in the first quarter worth $1,150,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Samsara during the first quarter worth $274,000. 89.39% of the stock is owned by institutional investors and hedge funds.

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.