Loop Capital Boosts Samsara (NYSE:IOT) Price Target to $63.00

Samsara (NYSE:IOT) had its price target boosted by stock analysts at Loop Capital from $46.00 to $63.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target would indicate a potential upside of 20.55% from the company’s previous close.

A number of other brokerages also recently commented on IOT. Evercore ISI increased their price target on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Friday, September 6th. Truist Financial raised their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. lifted their target price on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. BMO Capital Markets raised their price target on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company increased their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.29.

Samsara Price Performance

Samsara stock opened at $52.26 on Thursday. Samsara has a 1 year low of $27.14 and a 1 year high of $57.51. The firm’s 50 day moving average price is $50.35 and its 200-day moving average price is $42.33. The stock has a market cap of $29.08 billion, a P/E ratio of -109.98 and a beta of 1.53.

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

Insiders Place Their Bets

In related news, insider Adam Eltoukhy sold 5,008 shares of Samsara stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $47.30, for a total transaction of $236,878.40. Following the completion of the sale, the insider now owns 455,797 shares of the company’s stock, valued at $21,559,198.10. The trade was a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO James Andrew Munk sold 1,093 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 $15,123,445.77. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,873,300 shares of company stock valued at $91,752,243. 60.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Samsara

A number of hedge funds have recently modified their holdings of the stock. Hobbs Group Advisors LLC acquired a new stake in shares of Samsara during the 3rd quarter worth approximately $34,000. Continuum Advisory LLC lifted its position in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after buying an additional 247 shares in the last quarter. Resources Management Corp CT ADV raised its position in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares during the period. UMB Bank n.a. lifted its holdings in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after purchasing an additional 418 shares in the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Samsara during the second quarter worth about $38,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.