Samsara (NYSE:IOT) Price Target Increased to $40.00 by Analysts at Truist Financial

Samsara (NYSE:IOT) had its target price lifted by Truist Financial from $35.00 to $40.00 in a research report report published on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other research firms have also commented on IOT. Wolfe Research restated an outperform rating and issued a $44.00 price objective on shares of Samsara in a research report on Friday, June 28th. Wells Fargo & Company raised their price objective on shares of Samsara from $42.00 to $46.00 and gave the company an overweight rating in a research report on Friday. Morgan Stanley lifted their target price on shares of Samsara from $38.00 to $40.00 and gave the company an equal weight rating in a research report on Friday. BMO Capital Markets lifted their target price on shares of Samsara from $40.00 to $44.00 and gave the company a market perform rating in a research report on Friday. Finally, Bank of America lifted their target price on shares of Samsara from $45.00 to $47.00 and gave the company a buy rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $42.07.

Samsara Trading Up 13.5 %

IOT stock opened at $43.98 on Friday. The firm has a 50 day moving average of $38.12 and a 200-day moving average of $36.03. Samsara has a 12 month low of $21.48 and a 12 month high of $45.43. The firm has a market capitalization of $24.22 billion, a P/E ratio of -87.96 and a beta of 1.50.

Samsara (NYSE:IOT) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The company had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same period last year, the business earned ($0.11) earnings per share. Samsara’s revenue was up 36.9% compared to the same quarter last year. Sell-side analysts predict that Samsara will post -0.39 EPS for the current year.

Insiders Place Their Bets

In other Samsara news, insider John Bicket sold 93,212 shares of Samsara stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the transaction, the insider now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John Bicket sold 93,212 shares of Samsara stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,721,023.04. Following the transaction, the insider now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dominic Phillips sold 21,053 shares of Samsara stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.49, for a total transaction of $641,905.97. Following the completion of the transaction, the insider now directly owns 1,137,989 shares in the company, valued at $34,697,284.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,801,854 shares of company stock valued at $64,479,185. 60.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Resources Management Corp CT ADV increased 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 valued at $32,000 after purchasing an additional 490 shares during the period. Quarry LP bought a new position in Samsara in the 4th quarter worth about $37,000. National Bank of Canada FI bought a new position in Samsara in the 2nd quarter worth about $38,000. Montag A & Associates Inc. boosted its stake in Samsara by 1,200.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new position in Samsara in the 2nd quarter worth about $45,000. 89.39% of the stock is owned by hedge funds and other 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.