Samsara (NYSE:IOT) Price Target Raised to $40.00 at Truist Financial

Samsara (NYSE:IOT) had its price objective lifted by Truist Financial from $35.00 to $40.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also issued reports on IOT. Royal Bank of Canada upped their target price on shares of Samsara from $47.00 to $49.00 and gave the company an outperform rating in a research note on Friday. Loop Capital restated a buy rating and set a $42.00 price objective on shares of Samsara in a research note on Friday, June 28th. Wolfe Research reiterated an outperform rating and issued a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. Bank of America upped their price target on Samsara from $45.00 to $47.00 and gave the company a buy rating in a research report on Friday. Finally, Wells Fargo & Company raised their price objective on Samsara from $42.00 to $46.00 and gave the stock an overweight rating in a research note on Friday. Seven equities 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 company has a consensus rating of Moderate Buy and an average price target of $42.07.

Samsara Stock Up 4.8 %

Shares of NYSE IOT opened at $46.14 on Friday. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $46.22. The business has a 50 day moving average price of $38.34 and a two-hundred day moving average price of $36.18. The firm has a market cap of $25.41 billion, a PE ratio of -92.28 and a beta of 1.50.

Samsara (NYSE:IOT) last released 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. The business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.58%. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) earnings per share. On average, analysts anticipate that Samsara will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In other Samsara news, Director Marc L. Andreessen sold 277,484 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.88, for a total value of $8,013,737.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the sale, the chief executive officer now directly owns 1,466,299 shares in the company, valued at $43,241,157.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Marc L. Andreessen sold 277,484 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.88, for a total transaction of $8,013,737.92. The disclosure for this sale can be found here. Insiders have sold a total of 1,683,696 shares of company stock valued at $60,945,238 in the last quarter. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Resources Management Corp CT ADV raised its stake 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 in the last quarter. Quarry LP acquired a new position in Samsara during the fourth quarter worth about $37,000. National Bank of Canada FI acquired a new position in Samsara during the second quarter worth about $38,000. Montag A & Associates Inc. raised its position in Samsara by 1,200.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new stake in Samsara in the 2nd quarter valued at about $45,000. 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.