Samsara (NYSE:IOT) Given New $64.00 Price Target at Royal Bank of Canada

Samsara (NYSE:IOT) had its price objective boosted by Royal Bank of Canada from $49.00 to $64.00 in a report published on Thursday morning. The firm currently has an overweight rating on the stock.

Several other research firms have also commented on IOT. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. BNP Paribas began coverage on shares of Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price objective on the stock. Craig Hallum started coverage on shares of Samsara in a research note on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price objective on the stock. Evercore ISI lifted their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.71.

Samsara Stock Performance

IOT opened at $55.13 on Thursday. The stock has a market capitalization of $30.67 billion, a PE ratio of -114.85 and a beta of 1.53. Samsara has a one year low of $27.14 and a one year high of $57.51. The business’s 50 day moving average price is $50.35 and its 200 day moving average price is $42.33.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) earnings per share. As a group, equities research analysts forecast that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Samsara

In other news, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now owns 319,667 shares in the company, valued at approximately $15,123,445.77. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.88, for a total transaction of $4,500,480.00. Following the sale, the chief executive officer now owns 698,299 shares in the company, valued at $32,736,257.12. This represents a 12.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,873,300 shares of company stock worth $91,752,243 in the last 90 days. 60.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position 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 purchasing an additional 6,411,178 shares during the last quarter. FMR LLC raised its stake in shares of Samsara by 15.6% in the 3rd 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 period. 1832 Asset Management L.P. boosted its position in Samsara by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after acquiring an additional 500,400 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Samsara by 4.1% in the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock valued at $168,741,000 after purchasing an additional 138,702 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Samsara by 9.5% during the third quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock worth $109,307,000 after acquiring an additional 196,867 shares in the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

About Samsara

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.