Evercore ISI Boosts Samsara (NYSE:IOT) Price Target to $42.00

Samsara (NYSE:IOT) had its price objective upped by equities researchers at Evercore ISI from $40.00 to $42.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential upside of 8.33% from the stock’s previous close.

A number of other analysts have also recently issued reports on IOT. Royal Bank of Canada increased their price objective on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday. Wolfe Research reissued an “outperform” rating and set a $44.00 price objective on shares of Samsara in a report on Friday, June 28th. Loop Capital reissued a “buy” rating and set a $42.00 price objective on shares of Samsara in a report on Friday, June 28th. Bank of America increased their price objective on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday. Finally, StockNews.com cut Samsara from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.00.

Samsara Price Performance

Shares of NYSE IOT opened at $38.77 on Friday. Samsara has a one year low of $21.48 and a one year high of $42.49. The business’s fifty day moving average price is $37.91 and its 200-day moving average price is $35.96. The stock has a market capitalization of $21.35 billion, a PE ratio of -77.54 and a beta of 1.49.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) EPS. As a group, equities analysts expect that Samsara will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Marc L. Andreessen sold 277,484 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Samsara news, Director Marc L. Andreessen sold 277,484 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the completion of the transaction, the chief accounting officer now directly owns 337,523 shares of the company’s stock, valued at approximately $10,129,065.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,801,854 shares of company stock worth $64,479,185. 60.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Samsara

A number of hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. raised its position in Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after buying an additional 4,207,974 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after purchasing an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Samsara by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after purchasing an additional 500,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Samsara by 12.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after purchasing an additional 243,170 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.