Samsara (NYSE:IOT) Sets New 52-Week High on Analyst Upgrade

Samsara Inc. (NYSE:IOT)’s share price reached a new 52-week high on Friday after TD Cowen raised their price target on the stock from $46.00 to $56.00. TD Cowen currently has a buy rating on the stock. Samsara traded as high as $51.40 and last traded at $51.40, with a volume of 16341 shares changing hands. The stock had previously closed at $50.61.

A number of other research analysts have also weighed in on IOT. BNP Paribas initiated coverage on shares of Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. StockNews.com lowered shares of Samsara from a “hold” rating to a “sell” rating in a research report on Friday. Royal Bank of Canada raised their price target on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Wells Fargo & Company raised their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Bank of America raised their price objective on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Samsara currently has a consensus rating of “Hold” and a consensus price target of $43.00.

Insider Transactions at Samsara

In other news, insider Adam Eltoukhy sold 8,500 shares of Samsara stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.01, for a total value of $425,085.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Adam Eltoukhy sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.01, for a total transaction of $425,085.00. Following the completion of the transaction, the insider now owns 396,784 shares of the company’s stock, valued at approximately $19,843,167.84. 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 the SEC website. Also, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now directly owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,053,030 shares of company stock worth $87,159,176 over the last quarter. Corporate insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in shares of Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after acquiring an additional 4,207,974 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Samsara by 18.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after acquiring an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after acquiring an additional 1,841,149 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Samsara by 6.6% in the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after buying an additional 500,400 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in shares of Samsara by 12.2% in the first quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock worth $84,225,000 after buying an additional 243,170 shares during the period. 89.39% of the stock is currently owned by institutional investors.

Samsara Price Performance

The firm’s 50 day moving average is $43.78 and its 200 day moving average is $38.16. The company has a market capitalization of $28.10 billion, a PE ratio of -105.21 and a beta of 1.52.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $289.53 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, analysts predict that Samsara Inc. will post -0.34 EPS for the current fiscal year.

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.