Samsara (NYSE:IOT) Lifted to “Hold” at StockNews.com

Samsara (NYSE:IOT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

IOT has been the subject of a number of other research reports. Wolfe Research reissued an “outperform” rating and set a $44.00 target price on shares of Samsara in a research note on Friday, June 28th. Bank of America lifted their price objective 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 upped their target price on 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 lifted their price target on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Truist Financial increased their price objective on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Samsara Stock Down 1.7 %

Shares of NYSE IOT opened at $49.14 on Tuesday. The business has a fifty day simple moving average of $45.29 and a 200-day simple moving average of $38.74. The company has a market cap of $27.07 billion, a price-to-earnings ratio of -98.28 and a beta of 1.52. 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 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 business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, sell-side analysts expect that Samsara will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Samsara news, insider John Bicket sold 65,632 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $36.82, for a total value of $2,416,570.24. Following the sale, the insider now directly owns 1,478,408 shares in the company, valued at $54,434,982.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Samsara news, insider John Bicket sold 65,632 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total value of $2,416,570.24. Following the transaction, the insider now directly owns 1,478,408 shares in the company, valued at $54,434,982.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 9,308 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total transaction of $471,357.12. Following the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at approximately $20,093,141.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,849,061 shares of company stock worth $80,282,052 over the last quarter. Company insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOT. Baillie Gifford & Co. raised its position in shares of Samsara by 18.1% during the second 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. 1832 Asset Management L.P. raised its holdings in Samsara by 102.1% during the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after purchasing an additional 3,853,400 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after purchasing an additional 2,797,326 shares during the period. Vanguard Group Inc. boosted its stake 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 valued at $646,253,000 after purchasing an additional 1,841,149 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Samsara during the 2nd quarter worth approximately $29,464,000. Institutional investors and hedge funds 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.