Samsara (NYSE:IOT) Given New $46.00 Price Target at Loop Capital

Samsara (NYSE:IOT) had its price objective upped by equities research analysts at Loop Capital from $42.00 to $46.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target would suggest a potential upside of 2.77% from the stock’s previous close.

IOT has been the subject of a number of other reports. Bank of America lifted their price target on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday. Wolfe Research reissued an “outperform” rating and set a $44.00 price objective on shares of Samsara in a report on Friday, June 28th. Evercore ISI boosted their price objective on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday. TD Cowen boosted their price objective on Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday. Finally, Morgan Stanley boosted their price objective on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.36.

Samsara Stock Up 15.5 %

IOT traded up $6.01 during trading on Friday, reaching $44.76. 7,850,589 shares of the company’s stock were exchanged, compared to its average volume of 3,652,638. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $45.43. The business has a 50 day moving average price of $37.91 and a 200 day moving average price of $35.96. The company has a market capitalization of $24.65 billion, a P/E ratio of -89.52 and a beta of 1.49.

Samsara (NYSE:IOT) last posted 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 net margin of 27.14% and a negative return on equity of 21.66%. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the previous year, the company earned ($0.11) earnings per share. The business’s revenue was up 36.9% compared to the same quarter last year. As a group, research analysts forecast that Samsara will post -0.39 EPS for the current year.

Insider Activity at Samsara

In related news, CAO James Andrew Munk sold 1,105 shares of the business’s stock in a transaction that occurred 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 directly owns 337,523 shares in the company, valued at approximately $10,129,065.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO James Andrew Munk sold 1,105 shares of the business’s stock in a transaction that occurred 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 directly owns 337,523 shares in the company, valued at approximately $10,129,065.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Eltoukhy sold 9,471 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the completion of the transaction, the insider now owns 465,967 shares of the company’s stock, valued at $17,608,892.93. The disclosure for this sale can be found here. In the last three months, insiders sold 1,801,854 shares of company stock worth $64,479,185. 60.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Samsara

A number of large investors have recently bought and sold shares of IOT. Resources Management Corp CT ADV boosted its holdings in shares of Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares during the last quarter. Quarry LP bought a new stake in Samsara in the 4th quarter valued at $37,000. National Bank of Canada FI bought a new stake in Samsara in the 2nd quarter valued at $38,000. Montag A & Associates Inc. raised its stake in Samsara by 1,200.0% in the 4th 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 stake in Samsara in the 2nd quarter valued at $45,000. Institutional investors and hedge funds 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.