Samsara (NYSE:IOT) Upgraded by StockNews.com to Hold

Samsara (NYSE:IOT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other brokerages have also recently issued reports on IOT. TD Cowen raised their price objective on Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial increased their price objective on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Friday. Loop Capital raised their target price on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company increased their target price on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Samsara Price Performance

Shares of Samsara stock traded up $5.23 during trading on Friday, reaching $43.98. 12,521,008 shares of the company traded hands, compared to its average volume of 3,679,773. The company has a 50 day moving average price of $38.12 and a 200-day moving average price of $36.03. The firm has a market capitalization of $24.22 billion, a PE 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 posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. Equities research analysts expect that Samsara will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Samsara

In other news, insider Dominic Phillips sold 21,053 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $30.49, for a total transaction of $641,905.97. Following the transaction, the insider now directly owns 1,137,989 shares in the company, valued at approximately $34,697,284.61. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Sanjit Biswas sold 84,030 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total value of $3,524,218.20. Following the completion of the sale, the chief executive officer now owns 806,269 shares of the company’s stock, valued at approximately $33,814,921.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dominic Phillips sold 21,053 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.49, for a total transaction of $641,905.97. Following the sale, the insider now directly owns 1,137,989 shares in the company, valued at $34,697,284.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,801,854 shares of company stock worth $64,479,185. 60.04% of the stock is owned by insiders.

Institutional Trading of Samsara

Hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. grew its position in shares of Samsara by 18.1% in the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock valued at $924,499,000 after purchasing an additional 4,207,974 shares during the last quarter. 1832 Asset Management L.P. raised its position in Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after purchasing an additional 3,853,400 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after acquiring an additional 2,797,326 shares during the period. Vanguard Group Inc. boosted its stake in shares of Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Samsara during the 2nd quarter worth $29,464,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

Samsara Company Profile

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.