Analysts Set Samsara Inc. (NYSE:IOT) Target Price at $45.67

Samsara Inc. (NYSE:IOT) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $45.67.

IOT has been the topic of several recent research reports. Truist Financial increased their price objective on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Craig Hallum initiated coverage on shares of Samsara in a research note on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price objective for the company. BNP Paribas started coverage on shares of Samsara in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price on the stock. Finally, Bank of America upped their price target on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, September 6th.

Insider Activity

In other Samsara news, CEO Sanjit Biswas sold 75,594 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the completion of the sale, the chief executive officer now directly owns 120,292 shares in the company, valued at $6,723,119.88. This trade represents a 38.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam Eltoukhy sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $45.00, for a total value of $562,500.00. Following the transaction, the insider now owns 465,967 shares in the company, valued at $20,968,515. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,809,695 shares of company stock valued at $85,445,322. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its stake in shares of Samsara by 23.4% in the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after acquiring an additional 6,411,178 shares in the last quarter. FMR LLC lifted its holdings in shares of Samsara by 15.6% during the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock valued at $572,176,000 after purchasing an additional 1,604,822 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Samsara in the 2nd quarter worth approximately $29,464,000. Charles Schwab Investment Management Inc. grew its stake in shares of Samsara by 55.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock worth $88,013,000 after buying an additional 650,982 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Samsara by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after buying an additional 500,400 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Samsara Trading Down 3.0 %

IOT stock opened at $53.73 on Monday. The company’s 50 day moving average is $49.70 and its 200 day moving average is $41.76. The stock has a market cap of $29.89 billion, a price-to-earnings ratio of -111.94 and a beta of 1.52. Samsara has a 1-year low of $26.13 and a 1-year high of $57.51.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping 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 firm had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Samsara will post -0.34 EPS for the current fiscal year.

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.