Samsara (NYSE:IOT) Price Target Raised to $44.00 at BMO Capital Markets

Samsara (NYSE:IOT) had its price target boosted by BMO Capital Markets from $40.00 to $44.00 in a research report report published on Friday, Marketbeat reports. They currently have a market perform rating on the stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler reissued a neutral rating and issued a $36.00 target price on shares of Samsara in a research note on Friday, June 28th. Bank of America boosted their price objective on shares of Samsara from $42.00 to $45.00 and gave the company a buy rating in a research report on Friday, August 30th. Loop Capital reissued a buy rating and set a $42.00 price objective on shares of Samsara in a research note on Friday, June 28th. StockNews.com cut shares of Samsara from a hold rating to a sell rating in a research note on Wednesday, August 21st. Finally, Evercore ISI reduced their price target on Samsara from $41.00 to $40.00 and set an in-line rating on the stock in a research note on Friday, June 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Samsara presently has an average rating of Moderate Buy and a consensus target price of $42.07.

Samsara Trading Up 13.5 %

NYSE:IOT opened at $43.98 on Friday. The company has a market capitalization of $24.22 billion, a P/E ratio of -87.96 and a beta of 1.50. The firm has a 50-day moving average price of $38.12 and a two-hundred day moving average price of $36.03. Samsara has a twelve month low of $21.48 and a twelve month high of $45.43.

Samsara (NYSE:IOT) last issued its quarterly earnings data 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 business had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same period last year, the company posted ($0.11) EPS. The company’s revenue was up 36.9% on a year-over-year basis. On average, equities research analysts predict that Samsara will post -0.39 earnings per share for the current year.

Insider Transactions at Samsara

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $29.78, for a total value of $2,858,880.00. Following the sale, the chief executive officer now directly owns 1,392,712 shares of the company’s stock, valued at $41,474,963.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,392,712 shares in the company, valued at $41,474,963.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $8,013,737.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,801,854 shares of company stock valued at $64,479,185. 60.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its holdings in Samsara by 18.1% during the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after acquiring an additional 4,207,974 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in 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 purchasing an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. lifted its stake in Samsara by 12.1% during the first 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. 1832 Asset Management L.P. grew its position in Samsara by 6.6% in the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after buying an additional 500,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Samsara by 12.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after acquiring an additional 243,170 shares during the last quarter. 89.39% of the stock is currently owned by 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.