Samsara (NYSE:IOT) Price Target Raised to $45.00

Samsara (NYSE:IOT) had its price target raised by stock analysts at Bank of America from $42.00 to $45.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 9.89% from the company’s current price.

IOT has been the subject of several other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of Samsara in a report on Wednesday, June 26th. StockNews.com downgraded Samsara from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Wolfe Research reiterated an “outperform” rating and set a $44.00 price objective on shares of Samsara in a research report on Friday, June 28th. BMO Capital Markets reiterated a “market perform” rating and set a $40.00 price objective on shares of Samsara in a research report on Tuesday, June 11th. Finally, Evercore ISI reduced their price objective on Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.83.

Samsara Stock Performance

Shares of NYSE IOT traded up $0.34 during midday trading on Friday, reaching $40.95. 1,270,167 shares of the company’s stock were exchanged, compared to its average volume of 3,618,062. Samsara has a 52-week low of $21.48 and a 52-week high of $42.49. The stock has a market capitalization of $22.56 billion, a PE ratio of -81.78 and a beta of 1.49. The business’s fifty day moving average price is $36.99 and its two-hundred day moving average price is $35.77.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $280.73 million during the quarter, compared to analyst estimates of $272.51 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. Analysts predict that Samsara will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Samsara

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $33.44, for a total transaction of $3,210,240.00. Following the sale, the chief executive officer now directly owns 134,400 shares of the company’s stock, valued at approximately $4,494,336. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO James Andrew Munk sold 1,105 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.01, for a total value of $33,161.05. Following the completion of the sale, the chief accounting officer now directly owns 337,523 shares in the company, valued at $10,129,065.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $33.44, for a total transaction of $3,210,240.00. Following the sale, the chief executive officer now owns 134,400 shares of the company’s stock, valued at $4,494,336. The disclosure for this sale can be found here. Insiders have sold a total of 1,711,535 shares of company stock valued at $60,251,570 in the last three months. 60.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Samsara

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