Samsara (NYSE:IOT) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Samsara (NYSE:IOT) in a research note issued to investors on Friday, Benzinga reports. Piper Sandler currently has a $36.00 price target on the stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada reissued an outperform rating and set a $47.00 price target on shares of Samsara in a report on Wednesday, June 26th. Evercore ISI cut their price target on Samsara from $41.00 to $40.00 and set an in-line rating for the company in a report on Friday, June 7th. StockNews.com raised Samsara from a sell rating to a hold rating in a report on Saturday, May 25th. Wolfe Research restated an outperform rating and issued a $44.00 price objective on shares of Samsara in a research report on Friday. Finally, Loop Capital restated a buy rating and issued a $42.00 price objective on shares of Samsara in a research report on Friday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $37.17.

Samsara Trading Up 3.4 %

Shares of NYSE:IOT opened at $34.86 on Friday. The stock has a fifty day simple moving average of $35.09 and a two-hundred day simple moving average of $34.25. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of -69.72 and a beta of 1.49. Samsara has a 12-month low of $21.48 and a 12-month high of $42.28.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, June 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $280.73 million during the quarter, compared to analyst estimates of $272.51 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. As a group, equities research analysts predict that Samsara will post -0.39 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the sale, the chief executive officer now directly owns 1,466,299 shares in the company, valued at $43,241,157.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the sale, the chief executive officer now directly owns 1,466,299 shares in the company, valued at $43,241,157.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marc L. Andreessen sold 277,484 shares of the company’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 disclosure for this sale can be found here. Over the last three months, insiders have sold 1,590,053 shares of company stock worth $54,058,378. Corporate insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its stake in shares of Samsara by 9.4% during the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after purchasing an additional 280 shares during the period. Janney Capital Management LLC boosted its position in Samsara by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock valued at $345,000 after buying an additional 311 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after acquiring an additional 381 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Samsara by 6.8% during the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after acquiring an additional 497 shares during the period. Finally, Ulland Investment Advisors LLC raised its stake in shares of Samsara by 33.6% during the first quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock valued at $75,000 after acquiring an additional 500 shares in the last quarter. 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.