Samsara (NYSE:IOT) Given New $46.00 Price Target at TD Cowen

Samsara (NYSE:IOT) had its price objective boosted by TD Cowen from $45.00 to $46.00 in a research note released on Friday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other analysts have also weighed in on the company. BMO Capital Markets lifted their price objective on Samsara from $40.00 to $44.00 and gave the stock a market perform rating in a report on Friday. Wells Fargo & Company lifted their price objective on Samsara from $42.00 to $46.00 and gave the stock an overweight rating in a report on Friday. Truist Financial lifted their price objective on Samsara from $35.00 to $40.00 and gave the stock a hold rating in a report on Friday. Morgan Stanley boosted their price target on Samsara from $38.00 to $40.00 and gave the company an equal weight rating in a research note on Friday. Finally, Loop Capital reaffirmed a buy rating and issued a $42.00 price target on shares of Samsara in a research note on Friday, June 28th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $42.07.

Samsara Trading Up 13.5 %

Shares of Samsara stock opened at $43.98 on Friday. The stock has a 50-day moving average price of $38.12 and a 200 day moving average price of $36.03. The company has a market cap of $24.22 billion, a P/E ratio of -87.96 and a beta of 1.50. Samsara has a 1 year low of $21.48 and a 1 year high of $45.43.

Samsara (NYSE:IOT) last announced its quarterly earnings data 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 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 in the prior year, the business earned ($0.11) EPS. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities analysts forecast that Samsara will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Samsara

In related news, CEO Sanjit Biswas sold 93,107 shares of Samsara stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,716,831.44. Following the completion of the sale, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Marc L. Andreessen sold 277,484 shares of Samsara stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjit Biswas sold 93,107 shares of Samsara stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total value of $3,716,831.44. Following the sale, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The disclosure for this sale can be found here. Insiders sold a total of 1,801,854 shares of company stock worth $64,479,185 over the last 90 days. 60.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Samsara

A number of institutional investors have recently made changes to their positions in IOT. Resources Management Corp CT ADV grew 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 valued at $32,000 after acquiring an additional 490 shares during the period. Quarry LP acquired a new position in Samsara in the fourth quarter valued at about $37,000. National Bank of Canada FI acquired a new position in Samsara in the second quarter valued at about $38,000. Montag A & Associates Inc. grew its stake in Samsara by 1,200.0% in 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 acquired a new position in shares of Samsara during the second quarter worth about $45,000. 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.