Samsara (NYSE:IOT) Price Target Increased to $40.00 by Analysts at Morgan Stanley

Samsara (NYSE:IOT) had its target price lifted by Morgan Stanley from $38.00 to $40.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages have also recently weighed in on IOT. Bank of America upped their price target on shares of Samsara from $45.00 to $47.00 and gave the stock a buy rating in a research report on Friday. Evercore ISI upped their target price on Samsara from $40.00 to $42.00 and gave the stock an in-line rating in a research report on Friday. Wolfe Research reiterated an outperform rating and set a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Loop Capital restated a buy rating and issued a $42.00 price target on shares of Samsara in a report on Friday, June 28th. Finally, StockNews.com downgraded shares of Samsara from a hold rating to a sell rating in a research report on Wednesday, August 21st. Seven investment analysts have rated the stock with a hold rating and eight have issued 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 price target of $42.07.

Samsara Trading Up 4.8 %

Shares of IOT opened at $46.14 on Friday. Samsara has a twelve month low of $21.48 and a twelve month high of $46.22. The firm has a market capitalization of $25.41 billion, a P/E ratio of -92.28 and a beta of 1.50. The stock’s fifty day simple moving average is $38.34 and its 200 day simple moving average is $36.18.

Samsara (NYSE:IOT) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.58% and a negative net margin of 24.19%. 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 business posted ($0.11) EPS. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. Sell-side analysts predict that Samsara will post -0.39 earnings per share for the current year.

Insider Activity

In related news, insider John Bicket sold 93,212 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the sale, the insider now owns 76,800 shares in the company, valued at $3,065,856. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider John Bicket sold 93,212 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 transaction of $3,721,023.04. Following the completion of the transaction, the insider now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marc L. Andreessen sold 277,484 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The disclosure for this sale can be found here. In the last three months, insiders sold 1,683,696 shares of company stock valued at $60,945,238. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several hedge funds and other institutional investors have recently modified their holdings of IOT. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Samsara by 31.9% in the 4th 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. Charles Schwab Investment Management Inc. increased its stake in shares of Samsara by 9.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock valued at $32,360,000 after purchasing an additional 79,773 shares during the period. Montag A & Associates Inc. raised its holdings in shares of Samsara by 1,200.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after buying an additional 1,200 shares during the last quarter. AGF Management Ltd. bought a new stake in shares of Samsara during the fourth quarter valued at approximately $6,450,000. Finally, Jump Financial LLC bought a new position in Samsara in the 4th quarter worth approximately $3,204,000. Institutional investors and hedge funds 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.