Samsara’s (IOT) Outperform Rating Reiterated at Wolfe Research

Wolfe Research restated their outperform rating on shares of Samsara (NYSE:IOT) in a research report report published on Friday, Benzinga reports. Wolfe Research currently has a $44.00 price target on the stock.

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets reissued a market perform rating and set a $40.00 price target on shares of Samsara in a report on Tuesday, June 11th. Bank of America assumed coverage on Samsara in a report on Thursday, June 20th. They issued a buy rating and a $37.00 target price on the stock. StockNews.com raised Samsara from a sell rating to a hold rating in a report on Saturday, May 25th. Royal Bank of Canada reaffirmed an outperform rating and issued a $47.00 target price on shares of Samsara in a report on Wednesday, June 26th. Finally, Piper Sandler reaffirmed a neutral rating and issued a $36.00 target price (down from $41.00) on shares of Samsara in a report on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Samsara presently has a consensus rating of Moderate Buy and an average price target of $37.17.

Samsara Stock Up 3.3 %

NYSE:IOT opened at $33.70 on Friday. The business’s 50-day simple moving average is $35.02 and its two-hundred day simple moving average is $34.26. The stock has a market cap of $18.56 billion, a PE ratio of -67.40 and a beta of 1.51. Samsara has a 52 week low of $21.48 and a 52 week high of $42.28.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, June 6th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $280.73 million for the quarter, compared to analysts’ expectations of $272.51 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. Sell-side analysts anticipate that Samsara will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the completion of the transaction, the chief executive officer now owns 1,466,299 shares in the company, valued at $43,241,157.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Samsara news, Director Marc L. Andreessen sold 277,484 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total value of $2,831,040.00. Following the transaction, the chief executive officer now owns 1,466,299 shares of the company’s stock, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,686,053 shares of company stock worth $57,388,618. Corporate insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IOT. Fred Alger Management LLC purchased a new position in shares of Samsara during the third quarter valued at approximately $28,000. Quarry LP purchased a new position in shares of Samsara during the fourth quarter valued at approximately $37,000. Montag A & Associates Inc. boosted its position 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 buying an additional 1,200 shares during the period. Tradition Wealth Management LLC bought a new stake in shares of Samsara during the fourth quarter valued at approximately $46,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Samsara by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after acquiring an additional 381 shares in the last quarter. Hedge funds and other 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.