Analysts Set Samsara Inc. (NYSE:IOT) Target Price at $42.07

Samsara Inc. (NYSE:IOT) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $42.07.

IOT has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Truist Financial increased their price objective on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 6th. Wolfe Research restated an “outperform” rating and set a $44.00 price target on shares of Samsara in a research note on Friday, June 28th. Piper Sandler upped their price target on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

Samsara Stock Performance

IOT stock opened at $47.44 on Wednesday. The company’s 50 day moving average price is $39.21 and its 200 day moving average price is $36.51. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $47.68. The firm has a market capitalization of $26.13 billion, a price-to-earnings ratio of -94.88 and a beta of 1.50.

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

Insiders Place Their Bets

In other Samsara news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the completion of the sale, the chief executive officer now owns 1,466,299 shares in the company, valued at $43,241,157.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,858,859 shares of company stock worth $73,525,632. 60.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Resources Management Corp CT ADV lifted its stake in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares in the last quarter. Quarry LP acquired a new stake in shares of Samsara during the fourth quarter valued at $37,000. National Bank of Canada FI acquired a new stake in shares of Samsara during the second quarter valued at $38,000. Nemes Rush Group LLC purchased a new stake in Samsara during the 2nd quarter worth about $45,000. Finally, Tradition Wealth Management LLC acquired a new position in Samsara in the 4th quarter valued at about $46,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

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.