Samsara (NYSE:IOT) Given New $45.00 Price Target at Bank of America

Samsara (NYSE:IOT) had its price target increased by equities research analysts at Bank of America from $42.00 to $45.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 9.57% from the stock’s current price.

Several other research analysts have also commented on IOT. Wolfe Research reiterated an “outperform” rating and issued a $44.00 price target on shares of Samsara in a research report on Friday, June 28th. Loop Capital reaffirmed a “buy” rating and set a $42.00 target price on shares of Samsara in a research report on Friday, June 28th. Piper Sandler reissued a “neutral” rating and set a $36.00 price objective on shares of Samsara in a report on Friday, June 28th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $40.00 price objective on shares of Samsara in a research report on Tuesday, June 11th. Finally, Evercore ISI decreased their price objective on Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.83.

Samsara Price Performance

NYSE IOT opened at $41.07 on Friday. Samsara has a 1-year low of $21.48 and a 1-year high of $42.49. The stock has a market capitalization of $22.62 billion, a price-to-earnings ratio of -82.14 and a beta of 1.49. The business’s fifty day moving average price is $37.22 and its 200-day moving average price is $35.84.

Samsara (NYSE:IOT) last released its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The company had revenue of $280.73 million for the quarter, compared to analysts’ expectations of $272.51 million. Equities research analysts anticipate that Samsara will post -0.39 EPS for the current year.

Insider Activity at Samsara

In other news, insider Dominic Phillips sold 21,053 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.49, for a total transaction of $641,905.97. Following the sale, the insider now owns 1,137,989 shares of the company’s stock, valued at approximately $34,697,284.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Dominic Phillips sold 21,053 shares of Samsara stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.49, for a total value of $641,905.97. Following the transaction, the insider now directly owns 1,137,989 shares of the company’s stock, valued at approximately $34,697,284.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 9,471 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the completion of the transaction, the insider now directly owns 465,967 shares in the company, valued at $17,608,892.93. The disclosure for this sale can be found here. Insiders have sold a total of 1,711,535 shares of company stock worth $60,251,570 in the last three months. Insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after buying an additional 381 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Samsara during the 4th quarter worth about $348,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Samsara by 1.0% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 66,389 shares of the company’s stock worth $2,216,000 after buying an additional 644 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Samsara by 9.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock worth $32,360,000 after buying an additional 79,773 shares during the period. Finally, Montag A & Associates Inc. grew its position in shares of Samsara by 1,200.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after purchasing an additional 1,200 shares during the last quarter. 89.39% of the stock is currently 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.