Samsara (NYSE:IOT) Stock Price Expected to Rise, Truist Financial Analyst Says

Samsara (NYSE:IOT) had its target price lifted by Truist Financial from $40.00 to $50.00 in a research note published on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other brokerages have also recently issued reports on IOT. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Evercore ISI raised their price target on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. BNP Paribas assumed coverage on Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, BMO Capital Markets upped their price target on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.67.

Samsara Stock Up 3.8 %

IOT stock opened at $54.66 on Monday. Samsara has a twelve month low of $26.13 and a twelve month high of $55.39. The company has a market cap of $30.41 billion, a P/E ratio of -113.86 and a beta of 1.52. The business has a fifty day moving average of $49.08 and a 200-day moving average of $41.29.

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. The firm had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) EPS. As a group, equities research analysts anticipate that Samsara will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Samsara news, CEO Sanjit Biswas sold 84,030 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the completion of the transaction, the chief executive officer now owns 806,269 shares in the company, valued at approximately $33,814,921.86. This represents a 9.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Bicket sold 93,212 shares of Samsara stock in a transaction dated 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 sale, the insider now directly owns 76,800 shares in the company, valued at $3,065,856. This represents a 54.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,813,614 shares of company stock worth $83,336,654. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several hedge funds have recently made changes to their positions in IOT. Baillie Gifford & Co. grew its holdings 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 valued at $1,628,592,000 after acquiring an additional 6,411,178 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Samsara by 102.1% in the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after purchasing an additional 3,853,400 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after purchasing an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Samsara by 15.6% during the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after purchasing an additional 1,604,822 shares in the last quarter. 89.39% of the stock is owned by 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.