Samsara (NYSE:IOT) Price Target Raised to $44.00

Samsara (NYSE:IOT) had its price target boosted by JPMorgan Chase & Co. from $40.00 to $44.00 in a research note released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley raised their target price on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Evercore ISI lifted their price objective on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. BNP Paribas assumed coverage on shares of Samsara in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price for the company. Bank of America lifted their price target on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Piper Sandler increased their price objective on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Samsara presently has an average rating of “Hold” and a consensus price target of $51.29.

Samsara Stock Down 5.2 %

IOT opened at $52.27 on Friday. The company’s 50-day moving average price is $50.44 and its 200 day moving average price is $42.42. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $57.51. The firm has a market cap of $29.08 billion, a price-to-earnings ratio of -111.21 and a beta of 1.53.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business 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 quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) EPS. Research analysts anticipate that Samsara will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 75,594 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $55.89, for a total value of $4,224,948.66. Following the transaction, the chief executive officer now owns 120,292 shares of the company’s stock, valued at approximately $6,723,119.88. This represents a 38.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Bicket sold 83,091 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total value of $4,471,126.71. Following the sale, the insider now directly owns 19,200 shares of the company’s stock, valued at approximately $1,033,152. This represents a 81.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,873,300 shares of company stock valued at $91,752,243 over the last three months. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank boosted its position in shares of Samsara by 3.1% in the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock worth $29,623,000 after buying an additional 18,400 shares during the period. International Assets Investment Management LLC lifted its stake in Samsara by 2,787.2% in the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after acquiring an additional 10,452 shares in the last quarter. Bank of Montreal Can acquired a new stake in Samsara during the 2nd quarter worth about $537,000. Magnetar Financial LLC purchased a new position in Samsara during the 2nd quarter valued at about $1,240,000. Finally, Bamco Inc. NY increased its holdings in shares of Samsara by 91.0% in the 3rd quarter. Bamco Inc. NY now owns 667,125 shares of the company’s stock valued at $32,102,000 after purchasing an additional 317,831 shares during the period. Institutional investors and hedge funds 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.