Brokerages Set Samsara Inc. (NYSE:IOT) Target Price at $45.67

Samsara Inc. (NYSE:IOT) has been given an average recommendation of “Hold” by the fourteen brokerages that are presently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $46.43.

Several brokerages recently weighed in on IOT. Piper Sandler lifted their price target on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Bank of America boosted their price objective on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Craig Hallum assumed coverage on Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price objective for the company. Wells Fargo & Company boosted their price objective on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Loop Capital boosted their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th.

Insider Transactions at Samsara

In related news, CEO Sanjit Biswas sold 93,107 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total value of $3,716,831.44. Following the transaction, the chief executive officer now directly owns 76,800 shares in the company, valued at approximately $3,065,856. This represents a 54.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the transaction, the chief accounting officer now owns 319,667 shares in the company, valued at $15,123,445.77. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,809,695 shares of company stock worth $85,445,322 in the last ninety days. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its stake in Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares in the last quarter. FMR LLC lifted its stake in Samsara by 15.6% during the third 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. 1832 Asset Management L.P. lifted its stake in Samsara by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after purchasing an additional 500,400 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Samsara by 4.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock worth $168,741,000 after purchasing an additional 138,702 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Samsara by 9.5% during the third quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock worth $109,307,000 after purchasing an additional 196,867 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Down 0.5 %

Shares of Samsara stock opened at $53.49 on Monday. Samsara has a twelve month low of $26.86 and a twelve month high of $57.51. The business has a 50-day moving average price of $49.91 and a 200 day moving average price of $41.95. The firm has a market cap of $29.76 billion, a PE ratio of -111.44 and a beta of 1.52.

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

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.