Samsara (NYSE:IOT) Price Target Raised to $46.00 at Loop Capital

Samsara (NYSE:IOT) had its price objective increased by Loop Capital from $42.00 to $46.00 in a research note published on Friday, Benzinga reports. Loop Capital currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Piper Sandler upped their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a neutral rating in a research report on Friday. Morgan Stanley upped their price target on shares of Samsara from $38.00 to $40.00 and gave the stock an equal weight rating in a report on Friday. Royal Bank of Canada boosted their price objective on Samsara from $47.00 to $49.00 and gave the stock an outperform rating in a research report on Friday. Truist Financial increased their target price on Samsara from $35.00 to $40.00 and gave the company a hold rating in a research report on Friday. Finally, Wolfe Research restated an outperform rating and set a $44.00 price target on shares of Samsara in a report on Friday, June 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $42.07.

Samsara Price Performance

NYSE IOT opened at $43.98 on Friday. The business has a fifty day moving average price of $38.12 and a two-hundred day moving average price of $36.03. The stock has a market capitalization of $24.22 billion, a PE ratio of -87.96 and a beta of 1.50. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $45.43.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. The business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same period in the prior year, the company earned ($0.11) EPS. Samsara’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, sell-side analysts expect that Samsara will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James Andrew Munk sold 1,105 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.01, for a total value of $33,161.05. Following the transaction, the chief accounting officer now owns 337,523 shares in the company, valued at $10,129,065.23. 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 over the last ninety days. 60.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of hedge funds and other institutional investors have recently modified their holdings of IOT. Advisors Asset Management Inc. boosted its stake in Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after acquiring an additional 280 shares during the last quarter. Janney Capital Management LLC lifted its stake in Samsara by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock valued at $345,000 after purchasing an additional 311 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Samsara by 31.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after purchasing an additional 381 shares during the last quarter. Resources Management Corp CT ADV grew its holdings in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the period. Finally, Cetera Advisors LLC raised its stake in shares of Samsara by 6.8% in the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after buying an additional 497 shares during the period. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.