Samsara (NYSE:IOT) Given New $42.00 Price Target at Evercore ISI

Samsara (NYSE:IOT) had its price target increased by Evercore ISI from $40.00 to $42.00 in a report released on Friday, Benzinga reports. They currently have an in-line rating on the stock.

Several other research analysts have also weighed in on the stock. BMO Capital Markets raised their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a market perform rating in a report on Friday. Bank of America lifted their price target on Samsara from $45.00 to $47.00 and gave the stock a buy rating in a research note on Friday. StockNews.com cut Samsara from a hold rating to a sell rating in a research note on Wednesday, August 21st. Wolfe Research reiterated an outperform rating and issued a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. Finally, Loop Capital reissued a buy rating and set a $42.00 price target on shares of Samsara in a research report on Friday, June 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $42.07.

Samsara Price Performance

Samsara stock opened at $43.98 on Friday. The firm’s fifty day moving average price is $38.12 and its 200 day moving average price is $36.03. The company has a market capitalization of $24.22 billion, a price-to-earnings ratio of -87.96 and a beta of 1.50. Samsara has a 12-month low of $21.48 and a 12-month high of $45.43.

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

Insider Activity at Samsara

In other Samsara news, CAO James Andrew Munk sold 1,105 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $30.01, for a total transaction of $33,161.05. Following the transaction, the chief accounting officer now owns 337,523 shares of the company’s stock, valued at approximately $10,129,065.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Marc L. Andreessen sold 277,484 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 337,523 shares in the company, valued at approximately $10,129,065.23. The disclosure for this sale can be found here. Insiders have sold a total of 1,801,854 shares of company stock worth $64,479,185 over the last ninety days. 60.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Large investors have recently modified their holdings of the stock. Baillie Gifford & Co. raised its position in shares of Samsara by 18.1% during the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after purchasing an additional 4,207,974 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after buying an additional 2,797,326 shares during the period. Vanguard Group Inc. raised its holdings in Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after buying an additional 1,841,149 shares during the period. 1832 Asset Management L.P. lifted its stake in Samsara by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after buying an additional 500,400 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Samsara by 12.2% in the first quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock worth $84,225,000 after buying an additional 243,170 shares during the period. 89.39% of the stock is owned by 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.