Samsara (NYSE:IOT) Given New $44.00 Price Target at BMO Capital Markets

Samsara (NYSE:IOT) had its price target boosted by BMO Capital Markets from $40.00 to $44.00 in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has a market perform rating on the stock.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of Samsara from a hold rating to a sell rating in a research note on Wednesday, August 21st. Bank of America raised their price target on Samsara from $42.00 to $45.00 and gave the company a buy rating in a research note on Friday, August 30th. Wolfe Research reiterated an outperform rating and set a $44.00 price objective on shares of Samsara in a research note on Friday, June 28th. Royal Bank of Canada reissued an outperform rating and issued a $47.00 target price on shares of Samsara in a research note on Wednesday, June 26th. Finally, Evercore ISI dropped their price target on shares of Samsara from $41.00 to $40.00 and set an in-line rating on the stock in a research report on Friday, June 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $42.07.

Samsara Stock Performance

Shares of Samsara stock opened at $46.14 on Friday. The firm has a market cap of $25.41 billion, a PE ratio of -92.28 and a beta of 1.50. The business’s 50 day simple moving average is $38.34 and its 200 day simple moving average is $36.18. Samsara has a 52-week low of $21.48 and a 52-week high of $46.22.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 20.58%. The company had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same period last year, the company earned ($0.11) earnings per share. The firm’s revenue was up 36.9% compared to the same quarter last year. As a group, equities research analysts predict that Samsara will post -0.39 EPS for the current year.

Insiders Place Their Bets

In other Samsara news, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09. Following the transaction, the insider now owns 465,967 shares in the company, valued at approximately $17,608,892.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,466,299 shares of the company’s stock, valued at approximately $43,241,157.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $37.79, for a total value of $357,909.09. Following the sale, the insider now directly owns 465,967 shares in the company, valued at $17,608,892.93. The disclosure for this sale can be found here. Insiders sold 1,683,696 shares of company stock worth $60,945,238 in the last quarter. 60.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Several institutional investors and hedge funds have recently bought and sold shares of IOT. Resources Management Corp CT ADV raised its position in shares of 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 position in Samsara during the fourth quarter valued at approximately $37,000. National Bank of Canada FI bought a new stake in Samsara during the second quarter worth $38,000. Montag A & Associates Inc. boosted its holdings in shares of Samsara by 1,200.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new position in shares of Samsara in the 2nd quarter valued at $45,000. 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.