Morgan Stanley Issues Positive Forecast for Samsara (NYSE:IOT) Stock Price

Samsara (NYSE:IOT) had its price objective hoisted by Morgan Stanley from $40.00 to $52.00 in a report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also weighed in on IOT. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Craig Hallum initiated coverage on Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 target price for the company. Evercore ISI lifted their price target on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. BMO Capital Markets upped their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Finally, BNP Paribas started coverage on shares of Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price for the company. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.67.

Samsara Stock Performance

NYSE IOT opened at $52.62 on Wednesday. The firm’s 50 day moving average price is $48.91 and its two-hundred day moving average price is $41.20. Samsara has a twelve month low of $25.76 and a twelve month high of $53.98. The stock has a market cap of $29.28 billion, a price-to-earnings ratio of -109.63 and a beta of 1.52.

Samsara (NYSE:IOT) last posted 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 for the quarter, compared to analyst estimates of $289.53 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. Samsara’s quarterly revenue was up 36.9% on a year-over-year basis. On average, research analysts forecast that Samsara will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Samsara news, insider John Bicket sold 93,212 shares of Samsara 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 sale, the insider now directly owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. The trade was a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjit Biswas sold 93,107 shares of Samsara stock in a transaction on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $3,065,856. The trade was a 54.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,717,614 shares of company stock valued at $78,501,134 over the last ninety days. 60.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Samsara

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Resources Management Corp CT ADV raised its holdings in shares of Samsara by 104.0% in the second 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 during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Samsara in the third quarter worth about $34,000. National Bank of Canada FI bought a new position in shares of Samsara in the second quarter worth about $38,000. Nemes Rush Group LLC acquired a new position in shares of Samsara during the second quarter worth approximately $45,000. Finally, Continuum Advisory LLC grew its stake in shares of Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after purchasing an additional 247 shares during the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

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.