Morgan Stanley Increases Samsara (NYSE:IOT) Price Target to $40.00

Samsara (NYSE:IOT) had its price objective lifted by Morgan Stanley from $38.00 to $40.00 in a research report report published on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company upped their price target on shares of Samsara from $42.00 to $46.00 and gave the company an overweight rating in a research report on Friday. Loop Capital reiterated a buy rating and issued a $42.00 price objective on shares of Samsara in a research note on Friday, June 28th. Bank of America increased their target price on shares of Samsara from $45.00 to $47.00 and gave the stock a buy rating in a research note on Friday. StockNews.com lowered shares of Samsara from a hold rating to a sell rating in a report on Wednesday, August 21st. Finally, Wolfe Research restated an outperform rating and issued a $44.00 target price on shares of Samsara in a research note on Friday, June 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $42.07.

Samsara Trading Up 13.5 %

Shares of IOT stock opened at $43.98 on Friday. The stock has a 50-day moving average of $38.12 and a 200-day moving average of $36.03. The stock has a market cap of $24.22 billion, a price-to-earnings 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 released its quarterly earnings results 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 net margin of 27.14% and a negative return on equity of 21.66%. The firm had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same quarter last year, the business earned ($0.11) EPS. The company’s revenue was up 36.9% compared to the same quarter last year. Sell-side analysts forecast that Samsara will post -0.39 earnings per share for the current year.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $29.78, for a total transaction of $2,858,880.00. Following the transaction, the chief executive officer now directly owns 1,392,712 shares of the company’s stock, valued at approximately $41,474,963.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $29.78, for a total value of $2,858,880.00. Following the completion of the sale, the chief executive officer now owns 1,392,712 shares in the company, valued at approximately $41,474,963.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Bicket sold 83,583 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total value of $3,505,471.02. Following the completion of the transaction, the insider now owns 1,172,457 shares in the company, valued at approximately $49,172,846.58. The disclosure for this sale can be found here. In the last three months, insiders sold 1,801,854 shares of company stock valued at $64,479,185. 60.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Samsara

Several large investors have recently made changes to their positions in 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 worth $32,000 after buying an additional 490 shares during the last quarter. Quarry LP purchased a new position in Samsara in the fourth quarter valued at about $37,000. National Bank of Canada FI purchased a new position in Samsara in the second quarter valued at about $38,000. Montag A & Associates Inc. increased its stake in shares of Samsara by 1,200.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Nemes Rush Group LLC bought a new stake in shares of Samsara in the 2nd quarter worth approximately $45,000. 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.