Samsara (NYSE:IOT) Given New $56.00 Price Target at TD Cowen

Samsara (NYSE:IOT) had its price objective increased by equities researchers at TD Cowen from $46.00 to $56.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 10.56% from the company’s previous close.

A number of other brokerages have also issued reports on IOT. Morgan Stanley upped their target price on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. StockNews.com cut shares of Samsara from a “hold” rating to a “sell” rating in a research report on Friday. Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Samsara in a research note on Friday, June 28th. Truist Financial increased their price target on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada upped their price objective on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $43.00.

Samsara Trading Up 0.1 %

NYSE:IOT traded up $0.04 on Friday, hitting $50.65. 1,461,843 shares of the company’s stock traded hands, compared to its average volume of 3,731,229. The firm has a 50-day moving average price of $43.48 and a 200-day moving average price of $38.08. The company has a market cap of $28.18 billion, a PE ratio of -105.42 and a beta of 1.52. Samsara has a 1 year low of $21.48 and a 1 year high of $51.53.

Samsara (NYSE:IOT) last issued 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. The business had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) EPS. On average, research analysts forecast that Samsara will post -0.34 EPS for the current fiscal year.

Insider Transactions at Samsara

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the sale, the chief accounting officer now directly owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,049,030 shares of company stock valued at $86,959,176. Corporate insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Resources Management Corp CT ADV lifted its holdings 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 purchasing an additional 490 shares in the last quarter. Quarry LP purchased a new stake in Samsara in the fourth quarter valued at approximately $37,000. National Bank of Canada FI purchased a new position in Samsara in the 2nd quarter worth approximately $38,000. Nemes Rush Group LLC bought a new stake in shares of Samsara during the 2nd quarter worth $45,000. Finally, UMB Bank n.a. lifted its stake in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares during the last quarter. 89.39% of the stock is 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.