Samsara (NYSE:IOT) Price Target Increased to $44.00 by Analysts at BMO Capital Markets

Samsara (NYSE:IOT) had its price objective raised by BMO Capital Markets from $40.00 to $44.00 in a research note released on Friday, Marketbeat reports. They currently have a market perform rating on the stock.

Several other brokerages have also recently commented on IOT. Bank of America boosted their price target on Samsara from $42.00 to $45.00 and gave the company a buy rating in a research note on Friday, August 30th. Loop Capital reissued a buy rating and issued a $42.00 price target on shares of Samsara in a research report on Friday, June 28th. Evercore ISI lowered their target price on shares of Samsara from $41.00 to $40.00 and set an in-line rating on the stock in a research note on Friday, June 7th. Royal Bank of Canada reissued an outperform rating and set a $47.00 target price on shares of Samsara in a research report on Wednesday, June 26th. Finally, Wolfe Research restated an outperform rating and set a $44.00 price target on shares of Samsara in a report on Friday, June 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Samsara presently has a consensus rating of Moderate Buy and an average target price of $42.07.

Samsara Price Performance

NYSE:IOT opened at $43.98 on Friday. The stock has a market cap of $24.22 billion, a PE ratio of -87.96 and a beta of 1.50. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $45.43. The stock’s 50-day moving average is $38.12 and its two-hundred day moving average is $36.03.

Samsara (NYSE:IOT) last released its quarterly earnings data 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 27.14% and a negative return on equity of 21.66%. 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 business earned ($0.11) EPS. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, equities research analysts anticipate that Samsara will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $29.78, for a total transaction of $2,858,880.00. Following the completion of the transaction, the chief executive officer now directly owns 1,392,712 shares of the company’s stock, valued at approximately $41,474,963.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Samsara news, 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 of the company’s stock, valued at $34,697,284.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $29.78, for a total transaction of $2,858,880.00. Following the sale, the chief executive officer now owns 1,392,712 shares of the company’s stock, valued at approximately $41,474,963.36. The disclosure for this sale can be found here. Insiders have sold 1,801,854 shares of company stock worth $64,479,185 over the last 90 days. Corporate insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

A number of large investors have recently bought and sold shares of IOT. Advisors Asset Management Inc. increased its position in Samsara by 9.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after acquiring an additional 280 shares in the last quarter. Janney Capital Management LLC lifted its holdings in Samsara by 3.1% during the 4th quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock worth $345,000 after buying an additional 311 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after buying an additional 381 shares during the period. Resources Management Corp CT ADV raised its position in shares of Samsara by 104.0% during the second 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. Finally, Cetera Advisors LLC boosted its holdings in Samsara by 6.8% in the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after acquiring an additional 497 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.