Samsara (NYSE:IOT) Price Target Raised to $56.00

Samsara (NYSE:IOT) had its price target hoisted by TD Cowen from $46.00 to $56.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

IOT has been the topic of several other reports. Truist Financial raised their target price on shares of Samsara from $35.00 to $40.00 and gave the stock a hold rating in a research report on Friday, September 6th. Wolfe Research restated an outperform rating and set a $44.00 price objective on shares of Samsara in a report on Friday, June 28th. Royal Bank of Canada increased their target price on Samsara from $47.00 to $49.00 and gave the stock an outperform rating in a research report on Friday, September 6th. Piper Sandler boosted their price target on Samsara from $36.00 to $40.00 and gave the company a neutral rating in a research report on Friday, September 6th. Finally, Morgan Stanley raised their price objective on Samsara from $38.00 to $40.00 and gave the stock an equal weight rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $43.00.

Samsara Price Performance

Shares of NYSE IOT opened at $50.51 on Friday. The company has a market cap of $27.82 billion, a PE ratio of -101.02 and a beta of 1.52. The company has a 50-day simple moving average of $44.08 and a 200-day simple moving average of $38.25. Samsara has a 12 month low of $21.48 and a 12 month high of $51.53.

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

Insider Buying and Selling at Samsara

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $46.44, for a total transaction of $91,858.32. The disclosure for this sale can be found here. Insiders sold a total of 1,984,447 shares of company stock valued at $84,552,055 in the last ninety days. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Resources Management Corp CT ADV raised its position in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after acquiring an additional 490 shares in the last quarter. Quarry LP acquired a new stake in shares of Samsara during the fourth quarter worth $37,000. National Bank of Canada FI bought a new position in shares of Samsara in the 2nd quarter worth about $38,000. Nemes Rush Group LLC acquired a new position in shares of Samsara in the 2nd quarter valued at about $45,000. Finally, UMB Bank n.a. grew its position in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after buying an additional 418 shares during the last quarter. 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.