Samsara (NYSE:IOT) Price Target Raised to $47.00 at Bank of America

Samsara (NYSE:IOT) had its target price lifted by Bank of America from $45.00 to $47.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Samsara from a hold rating to a sell rating in a report on Wednesday, August 21st. Evercore ISI cut their target price on shares of Samsara from $41.00 to $40.00 and set an in-line rating on the stock in a research note on Friday, June 7th. Piper Sandler reaffirmed a neutral rating and issued a $36.00 price target on shares of Samsara in a research note on Friday, June 28th. Royal Bank of Canada reiterated an outperform rating and set a $47.00 price objective on shares of Samsara in a report on Wednesday, June 26th. Finally, Loop Capital restated a buy rating and issued a $42.00 target price on shares of Samsara in a research note on Friday, June 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $42.07.

Samsara Stock Up 13.5 %

IOT opened at $43.98 on Friday. Samsara has a twelve month low of $21.48 and a twelve month high of $45.43. The company has a fifty day moving average of $38.12 and a 200-day moving average of $36.03. The stock has a market cap of $24.22 billion, a PE ratio of -87.96 and a beta of 1.50.

Samsara (NYSE:IOT) last issued 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. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. The firm had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same period last year, the business posted ($0.11) EPS. The business’s revenue was up 36.9% compared to the same quarter last year. Sell-side analysts anticipate that Samsara will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO James Andrew Munk sold 1,105 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $30.01, for a total transaction of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares in the company, valued at $10,129,065.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Samsara news, CAO James Andrew Munk sold 1,105 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the completion of the transaction, the chief accounting officer now owns 337,523 shares in the company, valued at approximately $10,129,065.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 84,030 shares of the 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 transaction, the chief executive officer now owns 806,269 shares of the company’s stock, valued at approximately $33,814,921.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,801,854 shares of company stock valued at $64,479,185. Corporate insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several institutional investors and hedge funds have recently bought and sold shares of the company. Resources Management Corp CT ADV grew its stake in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares during the period. Quarry LP bought a new position in Samsara during the fourth quarter worth about $37,000. National Bank of Canada FI bought a new stake in shares of Samsara in the second quarter valued at approximately $38,000. Montag A & Associates Inc. lifted its stake in shares of Samsara by 1,200.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after buying an additional 1,200 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new position in shares of Samsara in the second quarter worth $45,000. 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.