Samsara (NYSE:IOT) Price Target Raised to $50.00

Samsara (NYSE:IOT) had its price target raised by Piper Sandler from $40.00 to $50.00 in a research note published on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research analysts also recently issued reports on the stock. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. BNP Paribas started coverage on Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. Morgan Stanley upped their price objective on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Craig Hallum began coverage on Samsara in a research report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.29.

Samsara Stock Down 5.2 %

Shares of NYSE IOT opened at $52.27 on Friday. The business has a 50-day moving average price of $50.44 and a 200 day moving average price of $42.42. The stock has a market cap of $29.08 billion, a PE ratio of -111.21 and a beta of 1.53. Samsara has a 52-week low of $27.14 and a 52-week high of $57.51.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $289.53 million. During the same period last year, the firm posted ($0.11) earnings per share. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. Sell-side analysts anticipate that Samsara will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Adam Eltoukhy sold 5,008 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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. This represents a 1.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.88, for a total value of $4,500,480.00. Following the completion of the sale, the chief executive officer now directly owns 698,299 shares in the company, valued at approximately $32,736,257.12. This trade represents a 12.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,873,300 shares of company stock worth $91,752,243. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Resources Management Corp CT ADV grew its holdings in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after buying an additional 490 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Samsara during the third quarter valued at about $34,000. National Bank of Canada FI acquired a new position in Samsara during the 2nd quarter valued at about $38,000. Nemes Rush Group LLC bought a new stake in shares of Samsara during the 2nd quarter worth about $45,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after acquiring an additional 247 shares in the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

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.