Evercore ISI Raises Samsara (NYSE:IOT) Price Target to $42.00

Samsara (NYSE:IOT) had its price target hoisted by Evercore ISI from $40.00 to $42.00 in a research report report published on Friday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other research analysts also recently commented on IOT. Piper Sandler reiterated a neutral rating and issued a $36.00 target price on shares of Samsara in a report on Friday, June 28th. BMO Capital Markets lifted their price objective on Samsara from $40.00 to $44.00 and gave the stock a market perform rating in a research note on Friday. Bank of America boosted their price objective on Samsara from $45.00 to $47.00 and gave the stock a buy rating in a research report on Friday. Royal Bank of Canada lifted their price target on Samsara from $47.00 to $49.00 and gave the stock an outperform rating in a research report on Friday. Finally, StockNews.com cut Samsara from a hold rating to a sell rating in a research report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $42.07.

Samsara Stock Performance

IOT opened at $46.14 on Friday. The company has a market cap of $25.41 billion, a PE ratio of -92.28 and a beta of 1.50. The stock has a 50-day moving average of $38.34 and a 200-day moving average of $36.18. Samsara has a 52-week low of $21.48 and a 52-week high of $46.22.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.58% and a negative net margin of 24.19%. The firm had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s revenue was up 36.9% on a year-over-year basis. On average, research analysts predict that Samsara will post -0.39 earnings per share for the current year.

Insider Transactions at Samsara

In related news, insider Dominic Phillips sold 21,112 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $34.42, for a total value of $726,675.04. Following the sale, the insider now owns 1,010,326 shares of the company’s stock, valued at $34,775,420.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Samsara news, insider Dominic Phillips sold 21,112 shares of Samsara stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $34.42, for a total transaction of $726,675.04. Following the sale, the insider now directly owns 1,010,326 shares of the company’s stock, valued at $34,775,420.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 93,107 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,716,831.44. Following the completion of the sale, the chief executive officer now owns 76,800 shares in the company, valued at $3,065,856. The disclosure for this sale can be found here. In the last three months, insiders sold 1,683,696 shares of company stock valued at $60,945,238. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

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