Samsara (NYSE:IOT) Price Target Increased to $47.00 by Analysts at Bank of America

Samsara (NYSE:IOT) had its price target increased by Bank of America from $45.00 to $47.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada restated an outperform rating and set a $47.00 price objective on shares of Samsara in a report on Wednesday, June 26th. StockNews.com lowered Samsara from a hold rating to a sell rating in a report on Wednesday, August 21st. Wolfe Research reissued an outperform rating and issued a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. Evercore ISI decreased their price target on shares of Samsara from $41.00 to $40.00 and set an in-line rating for the company in a research note on Friday, June 7th. Finally, Loop Capital reissued a buy rating and issued a $42.00 price objective on shares of Samsara in a research report on Friday, June 28th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $42.07.

Samsara Stock Performance

Shares of NYSE:IOT opened at $43.98 on Friday. The company has a 50 day moving average price of $38.12 and a two-hundred day moving average price of $36.03. The company has a market capitalization of $24.22 billion, a PE ratio of -87.96 and a beta of 1.50. Samsara has a 52 week low of $21.48 and a 52 week high of $45.43.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. Samsara’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) EPS. On average, sell-side analysts forecast that Samsara will post -0.39 earnings per share for the current year.

Insider Transactions at Samsara

In other Samsara news, CEO Sanjit Biswas sold 93,107 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,716,831.44. Following the transaction, the chief executive officer now owns 76,800 shares in the company, valued at approximately $3,065,856. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Sanjit Biswas sold 93,107 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,716,831.44. Following the sale, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Marc L. Andreessen sold 277,484 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were 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. Over the last 90 days, insiders sold 1,801,854 shares of company stock valued at $64,479,185. 60.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Samsara

Several large investors have recently made changes to their positions in the company. Resources Management Corp CT ADV raised its stake in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares in the last quarter. Quarry LP acquired a new position in shares of Samsara in the fourth quarter valued at approximately $37,000. National Bank of Canada FI acquired a new position in shares of Samsara during the second quarter worth $38,000. Montag A & Associates Inc. grew its stake in shares of Samsara by 1,200.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Nemes Rush Group LLC acquired a new stake in Samsara in the second quarter valued at $45,000. 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.