Samsara (NYSE:IOT) PT Raised to $46.00 at TD Cowen

Samsara (NYSE:IOT) had its target price lifted by stock analysts at TD Cowen from $45.00 to $46.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 3.95% from the stock’s previous close.

IOT has been the subject of several other reports. Wells Fargo & Company raised their price target on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday. Wolfe Research reiterated an “outperform” rating and issued a $44.00 target price on shares of Samsara in a research note on Friday, June 28th. Royal Bank of Canada raised their price target on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday. Loop Capital reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Samsara in a research report on Friday, June 28th. Finally, StockNews.com lowered Samsara from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Samsara presently has a consensus rating of “Hold” and an average target price of $41.07.

Samsara Price Performance

NYSE:IOT traded up $5.50 during mid-day trading on Friday, hitting $44.25. 4,602,225 shares of the company’s stock were exchanged, compared to its average volume of 3,633,752. The company has a market cap of $24.37 billion, a PE ratio of -88.50 and a beta of 1.49. Samsara has a one year low of $21.48 and a one year high of $45.37. The business has a fifty day moving average price of $37.91 and a 200 day moving average price of $35.96.

Samsara (NYSE:IOT) last issued its quarterly earnings results 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 21.66% and a negative net margin of 27.14%. The firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the previous year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, equities analysts forecast that Samsara will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Marc L. Andreessen sold 277,484 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were 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 at this hyperlink. In other news, Director Marc L. Andreessen sold 277,484 shares of Samsara stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.88, for a total transaction of $8,013,737.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO James Andrew Munk sold 1,105 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.01, for a total transaction of $33,161.05. Following the sale, 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. Over the last three months, insiders have sold 1,801,854 shares of company stock valued at $64,479,185. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IOT. Baillie Gifford & Co. increased its holdings 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 acquiring an additional 4,207,974 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Samsara by 102.1% in the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after purchasing an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after purchasing an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. raised 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 period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Samsara during the 2nd quarter valued at $29,464,000. Institutional investors 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.