Samsara (NYSE:IOT) Price Target Raised to $52.00 at Morgan Stanley

Samsara (NYSE:IOT) had its price objective upped by Morgan Stanley from $40.00 to $52.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued reports about the stock. TD Cowen raised their price target on shares of Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Craig Hallum started coverage on shares of Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Piper Sandler raised their price target on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada upped their target price on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Samsara currently has an average rating of “Hold” and an average target price of $45.67.

Samsara Trading Up 2.7 %

Samsara stock opened at $56.36 on Wednesday. Samsara has a 1-year low of $26.13 and a 1-year high of $56.76. The firm has a market capitalization of $31.36 billion, a price-to-earnings ratio of -117.42 and a beta of 1.52. The firm has a 50 day simple moving average of $49.25 and a 200 day simple moving average of $41.41.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS 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 during the quarter, compared to the consensus estimate of $289.53 million. During the same period last year, the firm earned ($0.11) EPS. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, equities research analysts forecast that Samsara will post -0.34 EPS for the current year.

Insider Buying and Selling at Samsara

In other news, insider John Bicket sold 83,583 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total transaction of $3,505,471.02. Following the completion of the transaction, the insider now directly owns 1,172,457 shares of the company’s stock, valued at approximately $49,172,846.58. This represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjit Biswas sold 84,030 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the transaction, the chief executive officer now directly owns 806,269 shares of the company’s stock, valued at approximately $33,814,921.86. This trade represents a 9.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,826,114 shares of company stock worth $84,024,779 over the last three months. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in Samsara by 23.4% in the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after buying an additional 6,411,178 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after buying an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. raised its stake in Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after buying an additional 1,841,149 shares in the last quarter. FMR LLC raised its stake in Samsara by 15.6% in the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after buying an additional 1,604,822 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Samsara by 6.6% in the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after buying an additional 500,400 shares in the last quarter. 89.39% of the stock is owned by 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.