Samsara (NYSE:IOT) PT Raised to $40.00 at Morgan Stanley

Samsara (NYSE:IOT) had its target price hoisted by equities researchers at Morgan Stanley from $38.00 to $40.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 9.13% from the company’s current price.

Several other research firms have also recently commented on IOT. Wells Fargo & Company boosted their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday. Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. Royal Bank of Canada lifted their price target on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets raised their price objective on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday. Finally, StockNews.com downgraded shares of Samsara from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Samsara Trading Up 13.6 %

Shares of Samsara stock opened at $44.02 on Friday. Samsara has a 1 year low of $21.48 and a 1 year high of $45.43. The company has a market cap of $24.25 billion, a P/E ratio of -88.04 and a beta of 1.50. The stock has a 50-day moving average price of $38.12 and a 200 day moving average price of $36.05.

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

Insider Transactions at Samsara

In other Samsara news, insider Dominic Phillips sold 21,053 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.49, for a total value of $641,905.97. Following the sale, the insider now owns 1,137,989 shares of the company’s stock, valued at approximately $34,697,284.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Samsara news, insider Dominic Phillips sold 21,053 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.49, for a total value of $641,905.97. Following the completion of the sale, the insider now directly owns 1,137,989 shares of the company’s stock, valued at approximately $34,697,284.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjit Biswas sold 93,107 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,716,831.44. Following the transaction, the chief executive officer now owns 76,800 shares in the company, valued at approximately $3,065,856. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,801,854 shares of company stock worth $64,479,185. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

A number of hedge funds have recently modified their holdings of IOT. Cim LLC acquired a new position in shares of Samsara in the second quarter valued at $1,049,000. Nemes Rush Group LLC bought a new stake in Samsara in the 2nd quarter valued at $45,000. Creative Planning raised its stake in shares of Samsara by 16.1% in the 2nd quarter. Creative Planning now owns 147,457 shares of the company’s stock valued at $4,969,000 after buying an additional 20,482 shares in the last quarter. MBB Public Markets I LLC lifted its holdings in shares of Samsara by 107.9% during the 2nd quarter. MBB Public Markets I LLC now owns 13,266 shares of the company’s stock worth $447,000 after acquiring an additional 6,885 shares during the period. Finally, APG Asset Management N.V. acquired a new stake in shares of Samsara during the 2nd quarter valued at about $745,000. 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.