Samsara (NYSE:IOT) Price Target Raised to $57.00 at BMO Capital Markets

Samsara (NYSE:IOT) had its target price increased by stock analysts at BMO Capital Markets from $44.00 to $57.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 9.05% from the stock’s previous close.

IOT has been the topic of several other research reports. Bank of America boosted 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. Morgan Stanley upped their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Royal Bank of Canada raised their target price on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday. BNP Paribas began coverage on Samsara in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price target on the stock. Finally, Evercore ISI raised their price objective on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.29.

Samsara Stock Performance

NYSE IOT opened at $52.27 on Friday. The stock has a market cap of $29.08 billion, a P/E ratio of -111.21 and a beta of 1.53. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $57.51. The stock has a 50 day simple moving average of $50.44 and a two-hundred day simple moving average of $42.40.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. Sell-side analysts predict that Samsara will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Samsara

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $46.44, for a total value of $91,858.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,873,300 shares of company stock worth $91,752,243. 60.04% of the stock is owned by corporate insiders.

Institutional Trading of Samsara

A number of large investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its position in Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after purchasing an additional 6,411,178 shares during the period. FMR LLC lifted its holdings in shares of Samsara by 15.6% during the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company’s stock valued at $572,176,000 after buying an additional 1,604,822 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Samsara by 6.6% in the 2nd 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. Westfield Capital Management Co. LP grew its holdings in shares of Samsara by 4.1% in the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock worth $168,741,000 after acquiring an additional 138,702 shares during the period. Finally, Geode Capital Management LLC increased its position in Samsara by 9.5% during the third quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock valued at $109,307,000 after acquiring an additional 196,867 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.