Samsara (NYSE:IOT) Coverage Initiated at BNP Paribas

Stock analysts at BNP Paribas started coverage on shares of Samsara (NYSE:IOT) in a report released on Tuesday, Briefing.com reports. The brokerage set a “neutral” rating and a $46.00 price target on the stock. BNP Paribas’ target price would suggest a potential downside of 3.71% from the company’s previous close.

Several other research analysts have also commented on IOT. Bank of America raised their price target on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley lifted their target price on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Piper Sandler boosted their target price on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Evercore ISI raised their price target on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada lifted their price target on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $42.33.

Samsara Stock Up 0.4 %

Shares of Samsara stock opened at $47.77 on Tuesday. Samsara has a 52 week low of $21.48 and a 52 week high of $50.07. The business has a 50 day moving average price of $42.58 and a 200-day moving average price of $37.78. The company has a market cap of $26.31 billion, a PE ratio of -95.54 and a beta of 1.52.

Samsara (NYSE:IOT) last announced its quarterly earnings data 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 company had revenue of $300.20 million during the quarter, compared to analyst estimates 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 for the quarter was up 36.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) EPS. As a group, research analysts anticipate that Samsara will post -0.34 EPS for the current year.

Insider Buying and Selling at Samsara

In other Samsara news, insider Adam Eltoukhy sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.01, for a total value of $425,085.00. Following the transaction, the insider now directly owns 396,784 shares of the company’s stock, valued at approximately $19,843,167.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Sanjit Biswas sold 59,112 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $38.05, for a total value of $2,249,211.60. Following the transaction, the chief executive officer now directly owns 1,311,187 shares of the company’s stock, valued at approximately $49,890,665.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Eltoukhy sold 8,500 shares of Samsara stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.01, for a total value of $425,085.00. Following the transaction, the insider now owns 396,784 shares in the company, valued at $19,843,167.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,940,034 shares of company stock worth $81,749,167. Company insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Institutional investors and hedge funds have recently bought and sold shares of the business. Sara Bay Financial bought a new position in shares of Samsara during the 3rd quarter valued at about $9,680,000. Miracle Mile Advisors LLC purchased a new stake in shares of Samsara in the third quarter worth about $339,000. Handelsbanken Fonder AB boosted its stake in Samsara by 17.8% during the third quarter. Handelsbanken Fonder AB now owns 47,000 shares of the company’s stock valued at $2,262,000 after buying an additional 7,100 shares during the last quarter. SG Americas Securities LLC purchased a new position in Samsara during the 3rd quarter valued at approximately $526,000. Finally, Central Pacific Bank Trust Division increased its stake in Samsara by 913.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 14,379 shares of the company’s stock worth $692,000 after acquiring an additional 12,960 shares during the last quarter. 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.