Samsara (NYSE:IOT) Given New $50.00 Price Target at Truist Financial

Samsara (NYSE:IOT) had its price objective raised by Truist Financial from $40.00 to $50.00 in a research note published on Monday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms have also issued reports on IOT. Royal Bank of Canada lifted their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Craig Hallum assumed coverage on Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price on the stock. TD Cowen upped their price target on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Evercore ISI upped 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, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Samsara currently has a consensus rating of “Hold” and a consensus target price of $45.67.

Samsara Price Performance

Shares of IOT stock opened at $54.66 on Monday. Samsara has a fifty-two week low of $26.13 and a fifty-two week high of $55.39. The stock’s 50-day moving average is $49.08 and its two-hundred day moving average is $41.29. The firm has a market cap of $30.41 billion, a P/E ratio of -113.86 and a beta of 1.52.

Samsara (NYSE:IOT) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm’s revenue was up 36.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) earnings per share. As a group, research analysts expect that Samsara will post -0.34 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Sanjit Biswas sold 84,030 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the completion of the transaction, the chief executive officer now owns 806,269 shares in the company, valued at $33,814,921.86. This trade represents a 9.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. Insiders have sold 1,813,614 shares of company stock worth $83,336,654 over the last 90 days. Corporate insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several institutional investors have recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its position in Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after purchasing an additional 247 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Samsara by 19.2% in the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after buying an additional 250 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after buying an additional 280 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Samsara by 3.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after buying an additional 304 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Samsara by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock worth $383,000 after acquiring an additional 388 shares during the last quarter. 89.39% of the stock is owned by institutional investors.

Samsara Company Profile

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.