Samsara (NYSE:IOT) Price Target Raised to $52.00

Samsara (NYSE:IOT) had its price target increased by equities researchers at Morgan Stanley from $40.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 0.46% from the company’s current price.

Several other research analysts have also recently issued reports on IOT. Evercore ISI raised their target price on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Royal Bank of Canada increased their target price on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Bank of America boosted their price target on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. Truist Financial increased their price objective on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a report on Monday. Finally, BMO Capital Markets upped their target price on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.67.

Samsara Trading Up 5.6 %

IOT opened at $52.24 on Wednesday. The stock has a market capitalization of $29.06 billion, a P/E ratio of -108.83 and a beta of 1.52. The stock has a 50-day moving average price of $48.78 and a 200-day moving average price of $41.12. Samsara has a 12-month low of $25.76 and a 12-month high of $53.98.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The business 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 24.19% and a negative return on equity of 20.39%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) earnings per share. On average, equities research analysts predict that Samsara will post -0.34 EPS for the current year.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 9,307 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.55, for a total transaction of $461,161.85. Following the completion of the sale, the insider now owns 396,784 shares of the company’s stock, valued at $19,660,647.20. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Bicket sold 64,137 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $47.48, for a total value of $3,045,224.76. Following the completion of the transaction, the insider now directly owns 41,288 shares in the company, valued at $1,960,354.24. This trade represents a 60.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,717,614 shares of company stock valued at $78,501,134. Insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of hedge funds have recently bought and sold shares of the business. Hobbs Group Advisors LLC bought a new stake in Samsara during the third quarter valued at approximately $34,000. Teachers Retirement System of The State of Kentucky lifted its stake in Samsara by 2.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 149,789 shares of the company’s stock worth $7,208,000 after purchasing an additional 3,000 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Samsara by 33.7% during the third quarter. Toronto Dominion Bank now owns 26,536 shares of the company’s stock valued at $1,277,000 after buying an additional 6,692 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of Samsara by 12.6% during the third quarter. Coldstream Capital Management Inc. now owns 6,958 shares of the company’s stock valued at $336,000 after buying an additional 776 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Samsara by 9.5% in the third quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock worth $109,307,000 after buying an additional 196,867 shares during the period. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.