Brokerages Set Samsara Inc. (NYSE:IOT) Price Target at $45.67

Shares of Samsara Inc. (NYSE:IOT) have been given an average recommendation of “Hold” by the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $45.67.

IOT has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Truist Financial upped their price target on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company lifted their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. TD Cowen increased their target price on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Evercore ISI lifted 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.

Samsara Stock Down 0.5 %

Shares of IOT opened at $53.49 on Monday. The firm has a market cap of $29.76 billion, a price-to-earnings ratio of -111.44 and a beta of 1.52. The business’s 50 day moving average is $49.91 and its two-hundred day moving average is $41.94. Samsara has a 52-week low of $26.86 and a 52-week high of $57.51.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 net margin of 24.19% and a negative return on equity of 20.39%. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, equities analysts expect that Samsara will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Bicket sold 75,600 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,225,284.00. Following the completion of the sale, the insider now directly owns 400,020 shares of the company’s stock, valued at approximately $22,357,117.80. This represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjit Biswas sold 93,107 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total transaction of $3,716,831.44. Following the transaction, the chief executive officer now owns 76,800 shares in the company, valued at $3,065,856. This represents a 54.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,809,695 shares of company stock worth $85,445,322. 60.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOT. UniSuper Management Pty Ltd acquired a new stake in shares of Samsara in the first quarter valued at $94,000. Advisors Asset Management Inc. boosted its position in shares of Samsara by 9.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after purchasing an additional 280 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Samsara in the 1st quarter worth approximately $620,000. Public Employees Retirement Association of Colorado bought a new stake in shares of Samsara in the 1st quarter worth approximately $749,000. Finally, California State Teachers Retirement System acquired a new stake in Samsara during the first quarter valued at approximately $8,009,000. 89.39% of the stock is owned by institutional investors.

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.