Samsara (NYSE:IOT) Price Target Increased to $42.00 by Analysts at Evercore ISI

Samsara (NYSE:IOT) had its price target increased by Evercore ISI from $40.00 to $42.00 in a research report sent to investors on Friday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

IOT has been the topic of several other reports. Wolfe Research restated an outperform rating and issued a $44.00 price target on shares of Samsara in a research report on Friday, June 28th. Loop Capital reaffirmed a buy rating and set a $42.00 price objective on shares of Samsara in a report on Friday, June 28th. Bank of America upped their price objective on Samsara from $45.00 to $47.00 and gave the company a buy rating in a research note on Friday. Piper Sandler reissued a neutral rating and set a $36.00 price objective on shares of Samsara in a report on Friday, June 28th. Finally, Royal Bank of Canada boosted their target price on shares of Samsara from $47.00 to $49.00 and gave the company an outperform rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Samsara presently has an average rating of Moderate Buy and a consensus target price of $42.07.

Samsara Stock Up 13.5 %

Shares of IOT stock opened at $43.98 on Friday. The business’s 50 day moving average is $38.12 and its two-hundred day moving average is $36.03. The company has a market cap of $24.22 billion, a PE ratio of -87.96 and a beta of 1.50. Samsara has a 12 month low of $21.48 and a 12 month high of $45.43.

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. The firm had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The business’s revenue was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS. As a group, equities analysts expect that Samsara will post -0.39 EPS for the current fiscal year.

Insider Activity

In related news, insider John Bicket sold 93,212 shares of Samsara stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the completion of the sale, the insider now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider John Bicket sold 93,212 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,721,023.04. Following the completion of the transaction, the insider now owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Marc L. Andreessen sold 277,484 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The disclosure for this sale can be found here. Insiders have sold a total of 1,801,854 shares of company stock valued at $64,479,185 in the last 90 days. 60.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Samsara

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Resources Management Corp CT ADV increased 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 acquired a new position in Samsara during the 4th quarter worth approximately $37,000. National Bank of Canada FI bought a new position in shares of Samsara during the 2nd quarter worth approximately $38,000. Montag A & Associates Inc. lifted its position in shares of Samsara by 1,200.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new stake in Samsara during the second quarter worth approximately $45,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

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.