Samsara (NYSE:IOT) Given New $52.00 Price Target at Morgan Stanley

Samsara (NYSE:IOT) had its price objective increased by Morgan Stanley from $40.00 to $52.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also recently issued reports on IOT. BMO Capital Markets boosted their target price on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Evercore ISI increased their target price on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Finally, TD Cowen boosted their price target on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.67.

Samsara Trading Up 0.7 %

Samsara stock opened at $52.62 on Wednesday. The firm has a market capitalization of $29.28 billion, a P/E ratio of -109.63 and a beta of 1.52. The business has a 50-day moving average of $48.91 and a 200-day moving average of $41.20. Samsara has a 1 year low of $25.76 and a 1 year high of $53.98.

Samsara (NYSE:IOT) last issued its 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. The firm had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. Research analysts anticipate that Samsara will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Samsara

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction 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 document filed with the SEC, which can be accessed through this link. Also, CEO Sanjit Biswas sold 84,030 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the completion of the sale, the chief executive officer now directly owns 806,269 shares of the company’s stock, valued at approximately $33,814,921.86. The trade was a 9.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,717,614 shares of company stock worth $78,501,134 over the last ninety days. Insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOT. Baillie Gifford & Co. increased its holdings in Samsara by 23.4% in the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after buying an additional 6,411,178 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Samsara by 102.1% during the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after buying an additional 3,853,400 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Samsara by 18.8% in 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 acquiring an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. grew its position in Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after acquiring an additional 1,841,149 shares during the last quarter. Finally, FMR LLC increased its holdings in Samsara by 15.6% in the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after purchasing an additional 1,604,822 shares in the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

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.