Samsara (NYSE:IOT) PT Raised to $40.00 at JPMorgan Chase & Co.

Samsara (NYSE:IOT) had its price target lifted by research analysts at JPMorgan Chase & Co. from $37.00 to $40.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 9.13% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Piper Sandler upped their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday. Evercore ISI increased their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday. Truist Financial boosted their price objective on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday. Royal Bank of Canada increased their target price on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets boosted their price target on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Samsara Price Performance

NYSE IOT opened at $44.02 on Friday. The business has a fifty day moving average price of $38.12 and a two-hundred day moving average price of $36.05. The stock has a market capitalization of $24.25 billion, a PE ratio of -88.04 and a beta of 1.50. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $45.43.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. The business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same period in the prior year, the company earned ($0.11) EPS. Samsara’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, sell-side analysts expect that Samsara will post -0.39 earnings per share for the current year.

Insider Transactions at Samsara

In related news, CAO James Andrew Munk sold 1,105 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.01, for a total transaction of $33,161.05. Following the transaction, the chief accounting officer now owns 337,523 shares in the company, valued at approximately $10,129,065.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $29.78, for a total value of $2,858,880.00. Following the completion of the sale, the chief executive officer now owns 1,392,712 shares of the company’s stock, valued at $41,474,963.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James Andrew Munk sold 1,105 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares in the company, valued at $10,129,065.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,801,854 shares of company stock worth $64,479,185. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Hedge funds and other institutional investors have recently bought and sold shares of the business. Resources Management Corp CT ADV grew its holdings in shares of Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares during the last quarter. Quarry LP bought a new position in Samsara in the 4th quarter valued at about $37,000. National Bank of Canada FI acquired a new position in Samsara during the 2nd quarter valued at about $38,000. Montag A & Associates Inc. increased its holdings in Samsara by 1,200.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Nemes Rush Group LLC purchased a new stake in shares of Samsara in the second quarter worth approximately $45,000. Institutional investors own 89.39% of the company’s stock.

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.