Samsara (NYSE:IOT) Research Coverage Started at Craig Hallum

Craig Hallum began coverage on shares of Samsara (NYSE:IOT) in a research report released on Tuesday, MarketBeat.com reports. The brokerage issued a hold rating and a $48.00 price target on the stock.

IOT has been the subject of several other research reports. Bank of America boosted their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company upped their target price on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Wolfe Research restated an “outperform” rating and set a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Finally, Loop Capital raised their price objective on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $43.31.

Samsara Trading Up 2.1 %

Shares of IOT stock opened at $48.27 on Tuesday. Samsara has a 1-year low of $21.48 and a 1-year high of $51.53. The stock has a 50-day moving average of $45.58 and a 200-day moving average of $38.89. The stock has a market cap of $26.59 billion, a price-to-earnings ratio of -96.76 and a beta of 1.52.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company 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 20.39% and a negative net margin of 24.19%. Samsara’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period last year, the business earned ($0.11) EPS. Sell-side analysts forecast that Samsara will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Samsara news, insider John Bicket sold 65,632 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $36.82, for a total transaction of $2,416,570.24. Following the completion of the sale, the insider now owns 1,478,408 shares of the company’s stock, valued at approximately $54,434,982.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Adam Eltoukhy sold 9,308 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total transaction of $471,357.12. Following the sale, the insider now directly owns 396,784 shares in the company, valued at $20,093,141.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Bicket sold 65,632 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $36.82, for a total transaction of $2,416,570.24. Following the completion of the transaction, the insider now directly owns 1,478,408 shares of the company’s stock, valued at $54,434,982.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,945,061 shares of company stock valued at $84,802,692. 60.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Samsara

Several large investors have recently made changes to their positions in the business. Resources Management Corp CT ADV boosted its holdings in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the last quarter. National Bank of Canada FI purchased a new stake in Samsara during the second quarter valued at $38,000. Nemes Rush Group LLC purchased a new position in shares of Samsara in the 2nd quarter worth $45,000. UMB Bank n.a. increased its position in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after purchasing an additional 418 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Samsara by 250.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after acquiring an additional 1,000 shares during the period. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

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.