Brokerages Set Samsara Inc. (NYSE:IOT) Price Target at $25.80

Shares of Samsara Inc. (NYSE:IOT) have earned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $25.80.

Several equities research analysts recently weighed in on the company. StockNews.com assumed coverage on Samsara in a report on Thursday, October 5th. They issued a “sell” rating for the company. Morgan Stanley upped their price target on Samsara from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, September 1st. FBN Securities assumed coverage on Samsara in a report on Wednesday, October 25th. They set an “outperform” rating and a $30.00 price target for the company. Wells Fargo & Company upped their price target on Samsara from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, September 1st. Finally, BMO Capital Markets boosted their price objective on Samsara from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Friday, September 1st.

Samsara Trading Up 1.1 %

Shares of Samsara stock opened at $27.17 on Thursday. The company’s 50-day moving average price is $24.83 and its two-hundred day moving average price is $25.19. Samsara has a 52 week low of $8.86 and a 52 week high of $32.41. The stock has a market cap of $14.53 billion, a PE ratio of -60.38 and a beta of 1.43.

Samsara (NYSE:IOT) last released its earnings results on Thursday, August 31st. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. The company had revenue of $219.26 million for the quarter, compared to analysts’ expectations of $207.69 million. Samsara had a negative return on equity of 20.84% and a negative net margin of 30.77%. On average, equities analysts predict that Samsara will post -0.41 EPS for the current fiscal year.

Insider Transactions at Samsara

In other news, CEO Sanjit Biswas sold 77,960 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $25.80, for a total transaction of $2,011,368.00. Following the transaction, the chief executive officer now owns 1,269,040 shares of the company’s stock, valued at $32,741,232. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sanjit Biswas sold 77,960 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $25.80, for a total transaction of $2,011,368.00. Following the transaction, the chief executive officer now owns 1,269,040 shares of the company’s stock, valued at $32,741,232. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Bicket sold 77,952 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $25.80, for a total value of $2,011,161.60. Following the transaction, the insider now owns 1,276,473 shares in the company, valued at approximately $32,933,003.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,407,436 shares of company stock worth $64,665,717. Insiders own 66.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in shares of Samsara during the 1st quarter valued at $558,000. PNC Financial Services Group Inc. lifted its position in shares of Samsara by 141.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 20,170 shares of the company’s stock valued at $322,000 after acquiring an additional 11,820 shares during the period. BlackRock Inc. lifted its position in shares of Samsara by 17.3% during the 1st quarter. BlackRock Inc. now owns 3,227,576 shares of the company’s stock valued at $51,704,000 after acquiring an additional 477,013 shares during the period. Vanguard Group Inc. lifted its position in shares of Samsara by 52.8% during the 1st quarter. Vanguard Group Inc. now owns 3,033,132 shares of the company’s stock valued at $48,591,000 after acquiring an additional 1,048,694 shares during the period. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Samsara during the 1st quarter valued at $3,109,000. 52.47% of the stock is owned by institutional investors and hedge funds.

Samsara Company Profile

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.