Samsara (NYSE:IOT) Stock Rating Upgraded by StockNews.com

Samsara (NYSE:IOT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Several other analysts have also commented on the stock. Wells Fargo & Company lifted their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. BMO Capital Markets boosted their price objective on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Piper Sandler increased their target price on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. TD Cowen upped their price objective on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Loop Capital boosted their target price on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Samsara currently has a consensus rating of “Hold” and an average price target of $44.20.

Samsara Stock Up 1.8 %

IOT traded up $0.95 during trading on Friday, reaching $52.72. The company’s stock had a trading volume of 2,126,561 shares, compared to its average volume of 3,581,918. The firm has a fifty day simple moving average of $47.25 and a two-hundred day simple moving average of $40.12. The company has a market cap of $29.33 billion, a price-to-earnings ratio of -109.83 and a beta of 1.52. Samsara has a 1 year low of $23.12 and a 1 year high of $52.81.

Samsara (NYSE:IOT) last announced 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 net margin of 24.19% and a negative return on equity of 20.39%. The firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the previous year, the company posted ($0.11) EPS. The company’s revenue was up 36.9% compared to the same quarter last year. As a group, equities 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 dated 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 completion of the sale, the insider now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Samsara news, CEO Sanjit Biswas sold 64,188 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total transaction of $3,047,646.24. Following the transaction, the chief executive officer now owns 41,272 shares of the company’s stock, valued at approximately $1,959,594.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Bicket sold 93,212 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,721,023.04. Following the completion of the sale, the insider now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,864,730 shares of company stock worth $84,375,885. Corporate insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

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

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.