Samsara (NYSE:IOT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Samsara (NYSE:IOT) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also weighed in on IOT. JPMorgan Chase & Co. increased their target price on shares of Samsara from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Truist Financial boosted their price target on shares of Samsara from $38.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, September 4th. Royal Bank Of Canada upped their price target on shares of Samsara from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, September 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $46.00 price objective (up from $40.00) on shares of Samsara in a report on Friday, September 4th. Finally, Weiss Ratings lowered shares of Samsara from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, September 9th. Sixteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and an average target price of $52.05.

Samsara Price Performance

Shares of IOT opened at $42.97 on Friday. Samsara has a 1 year low of $23.38 and a 1 year high of $47.47. The stock’s fifty day moving average price is $38.38 and its two-hundred day moving average price is $33.83. The firm has a market cap of $25.04 billion, a PE ratio of 268.57, a PEG ratio of 9.45 and a beta of 1.35.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. Samsara had a return on equity of 4.13% and a net margin of 4.90%.The company had revenue of $508.44 million during the quarter, compared to the consensus estimate of $483.29 million. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. Samsara has set its FY 2027 guidance at 0.760-0.780 EPS and its Q3 2027 guidance at 0.180-1.090 EPS. Sell-side analysts anticipate that Samsara will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John Bicket sold 245,925 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $36.77, for a total value of $9,042,662.25. Following the transaction, the insider directly owned 94,000 shares in the company, valued at approximately $3,456,380. This represents a 72.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjit Biswas sold 244,805 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $36.77, for a total transaction of $9,001,479.85. Following the completion of the sale, the chief executive officer directly owned 94,000 shares in the company, valued at $3,456,380. This represents a 72.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,219,206 shares of company stock valued at $83,821,258 in the last three months. 35.13% of the stock is owned by insiders.

Institutional Trading of Samsara

Several institutional investors and hedge funds have recently made changes to their positions in IOT. California State Teachers Retirement System increased its stake in Samsara by 3,119.1% in the second quarter. California State Teachers Retirement System now owns 15,704,422 shares of the company’s stock valued at $484,256,000 after acquiring an additional 15,216,568 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Samsara by 58.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 11,878,112 shares of the company’s stock worth $421,079,000 after purchasing an additional 4,401,082 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Samsara by 42.1% in the 4th quarter. Brown Advisory Inc. now owns 11,213,972 shares of the company’s stock worth $397,536,000 after purchasing an additional 3,322,023 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Samsara by 9.6% during the 2nd quarter. Wellington Management Group LLP now owns 9,327,606 shares of the company’s stock valued at $302,494,000 after purchasing an additional 813,922 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Samsara by 17.8% during the 4th quarter. Geode Capital Management LLC now owns 6,196,703 shares of the company’s stock valued at $219,035,000 after purchasing an additional 935,855 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

About Samsara

Samsara, Inc is a technology company that provides a cloud-based Connected Operations Platform for organizations that rely on physical operations. Its platform helps businesses monitor vehicles, equipment, worksites and employees, while using connected devices, software and data analytics to improve safety, efficiency and productivity.

The company’s products and services include vehicle telematics, GPS tracking, electronic logging and fleet management tools; video-based safety and security systems; equipment and asset monitoring; workforce and workflow management applications; and tools for dispatching, routing, maintenance and site visibility.