Samsara (NYSE:IOT) Given New $52.00 Price Target at Morgan Stanley

Samsara (NYSE:IOT) had its price target upped by research analysts at Morgan Stanley from $40.00 to $52.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 4.86% from the stock’s current price.

Several other equities analysts have also recently issued reports on IOT. Truist Financial boosted their target price on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday. Piper Sandler upped their price target on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Loop Capital upped their price target on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. BMO Capital Markets upped their price target on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Finally, BNP Paribas started coverage on Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Samsara has an average rating of “Hold” and a consensus target price of $45.67.

Samsara Stock Performance

Samsara stock opened at $54.66 on Wednesday. Samsara has a fifty-two week low of $26.13 and a fifty-two week high of $55.39. The company has a market capitalization of $30.41 billion, a P/E ratio of -113.86 and a beta of 1.52. The stock has a 50-day simple moving average of $49.08 and a 200-day simple moving average of $41.29.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $300.20 million during the quarter, compared to the consensus estimate 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 was up 36.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. As a group, analysts forecast that Samsara will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Samsara news, insider John Bicket sold 83,583 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total transaction of $3,505,471.02. Following the transaction, the insider now owns 1,172,457 shares of the company’s stock, valued at $49,172,846.58. This represents a 6.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the 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 disclosure for this sale can be found here. Insiders have sold a total of 1,813,614 shares of company stock valued at $83,336,654 in the last quarter. 60.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IOT. Vanguard Group Inc. raised its position in shares of Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after buying an additional 1,841,149 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Samsara in the 1st quarter worth $924,000. UniSuper Management Pty Ltd purchased a new position in shares of Samsara in the 1st quarter worth $94,000. Advisors Asset Management Inc. increased its holdings 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 purchasing an additional 280 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new stake in Samsara in the 1st quarter valued at $620,000. 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.