Craig Hallum Initiates Coverage on Samsara (NYSE:IOT)

Research analysts at Craig Hallum assumed coverage on shares of Samsara (NYSE:IOT) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a “hold” rating and a $48.00 price target on the stock. Craig Hallum’s target price suggests a potential upside of 1.52% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Bank of America upped their price target on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Evercore ISI upped their target price on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Loop Capital lifted their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Samsara in a research note on Friday, June 28th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.31.

Samsara Stock Performance

Samsara stock opened at $47.28 on Tuesday. The stock has a market capitalization of $26.04 billion, a price-to-earnings ratio of -94.14 and a beta of 1.52. Samsara has a 52-week low of $21.48 and a 52-week high of $51.53. The stock’s 50 day moving average price is $45.43 and its two-hundred day moving average price is $38.83.

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. 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 in the prior year, the firm earned ($0.11) earnings per share. Samsara’s revenue was up 36.9% on a year-over-year basis. On average, equities research analysts forecast that Samsara will post -0.34 EPS for the current year.

Insider Buying and Selling at Samsara

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’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 value of $14,894,042.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider John Bicket sold 65,632 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total transaction of $2,416,570.24. Following the completion of the sale, the insider now owns 1,478,408 shares in the company, valued at approximately $54,434,982.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,849,061 shares of company stock worth $80,282,052. Insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

A number of hedge funds have recently modified their holdings of IOT. Zweig DiMenna Associates LLC purchased a new stake in Samsara in the 3rd quarter worth about $4,956,000. Assenagon Asset Management S.A. boosted its position in Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after purchasing an additional 304 shares during the period. Grassi Investment Management bought a new position in Samsara in the 3rd quarter worth approximately $207,000. International Assets Investment Management LLC grew 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 valued at $521,000 after buying an additional 10,452 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Samsara by 84.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,608,921 shares of the company’s stock valued at $77,421,000 after acquiring an additional 734,619 shares during the period. 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.