Samsara Inc. (NYSE:IOT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Samsara Inc. (NYSE:IOT) have received an average rating of “Moderate Buy” from the fourteen analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $42.07.

Several analysts recently issued reports on IOT shares. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Wells Fargo & Company increased their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Loop Capital raised their target price on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Evercore ISI upped their price target on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th.

Insider Activity

In related news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the sale, the chief executive officer now directly owns 1,466,299 shares of the company’s stock, valued at $43,241,157.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Adam Eltoukhy sold 9,471 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09. Following the completion of the transaction, the insider now directly owns 465,967 shares in the company, valued at approximately $17,608,892.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,858,859 shares of company stock worth $73,525,632. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Resources Management Corp CT ADV grew its position in Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares during the last quarter. Quarry LP bought a new stake in shares of Samsara during the fourth quarter worth about $37,000. National Bank of Canada FI acquired a new position in shares of Samsara in the second quarter valued at approximately $38,000. Nemes Rush Group LLC bought a new position in Samsara in the 2nd quarter valued at approximately $45,000. Finally, Tradition Wealth Management LLC acquired a new stake in Samsara during the 4th quarter worth approximately $46,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Up 2.5 %

Shares of IOT opened at $47.44 on Wednesday. Samsara has a twelve month low of $21.48 and a twelve month high of $47.68. The stock has a market capitalization of $26.13 billion, a P/E ratio of -94.88 and a beta of 1.50. The company has a 50 day moving average of $39.21 and a 200-day moving average of $36.55.

Samsara (NYSE:IOT) last released its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Samsara will post -0.34 earnings per share for the current fiscal year.

About Samsara

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.