Samsara (NYSE:IOT) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Samsara (NYSE:IOT) from a sell rating to a hold rating in a report published on Friday.

Several other equities research analysts have also issued reports on IOT. BNP Paribas started coverage on Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target for the company. Evercore ISI raised their price objective on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Wells Fargo & Company raised their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. BMO Capital Markets raised their price objective on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Finally, Bank of America raised their price objective on Samsara from $45.00 to $47.00 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 seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.20.

Samsara Price Performance

Shares of Samsara stock opened at $52.50 on Friday. The firm has a market cap of $29.21 billion, a price-to-earnings ratio of -109.38 and a beta of 1.52. Samsara has a 52-week low of $23.35 and a 52-week high of $53.68. The stock has a 50-day simple moving average of $47.71 and a 200-day simple moving average of $40.48.

Samsara (NYSE:IOT) last announced its quarterly earnings results 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 20.39% and a negative net margin of 24.19%. The firm’s revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) EPS. As a group, equities research analysts predict that Samsara will post -0.34 earnings per share for the current year.

Insider Activity

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjit Biswas sold 78,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.50, for a total value of $3,170,947.50. Following the sale, the chief executive officer now owns 908,004 shares in the company, valued at approximately $36,774,162. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,864,730 shares of company stock worth $84,375,885. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in Samsara in the 2nd quarter valued at $537,000. International Assets Investment Management LLC boosted its stake in Samsara by 2,787.2% in the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after buying an additional 10,452 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Samsara in the 2nd quarter valued at $1,240,000. Swiss National Bank acquired a new position in Samsara in the first quarter worth $19,477,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Samsara in the first quarter worth $647,000. 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.