Samsara Inc. (NYSE:IOT) Receives Average Recommendation of “Moderate Buy” from Analysts

Samsara Inc. (NYSE:IOT) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $42.07.

IOT has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 6th. Piper Sandler raised their price objective on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Loop Capital raised their price objective on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Morgan Stanley raised their price objective on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th.

Samsara Stock Up 4.1 %

Shares of IOT stock opened at $47.60 on Friday. Samsara has a 52 week low of $21.48 and a 52 week high of $50.07. The stock has a market capitalization of $26.22 billion, a PE ratio of -95.20 and a beta of 1.52. The firm has a 50 day moving average of $42.58 and a two-hundred day moving average of $37.76.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter last year, the company posted ($0.11) EPS. The firm’s revenue was up 36.9% compared to the same quarter last year. Analysts expect that Samsara will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $34.76, for a total value of $3,336,960.00. Following the sale, the chief executive officer now owns 1,370,299 shares of the company’s stock, valued at $47,631,593.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $34.76, for a total value of $3,336,960.00. Following the sale, the chief executive officer now owns 1,370,299 shares of the company’s stock, valued at $47,631,593.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the sale, the chief accounting officer now directly owns 319,667 shares in the company, valued at approximately $15,123,445.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,036,034 shares of company stock valued at $85,086,127 over the last quarter. Corporate insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Institutional investors have recently added to or reduced their stakes in the stock. CHURCHILL MANAGEMENT Corp boosted its holdings in Samsara by 135.6% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock worth $2,277,000 after buying an additional 34,679 shares in the last quarter. Mission Wealth Management LP purchased a new stake in Samsara during the first quarter worth about $1,100,000. Quarry LP acquired a new position in Samsara during the fourth quarter worth about $37,000. Swiss National Bank acquired a new position in Samsara during the first quarter worth about $19,477,000. Finally, Magnetar Financial LLC acquired a new position in Samsara during the second quarter worth about $1,240,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.