Analysts Set Samsara Inc. (NYSE:IOT) Price Target at $44.20

Shares of Samsara Inc. (NYSE:IOT) have been assigned an average rating of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $44.20.

A number of analysts have issued reports on the company. Morgan Stanley raised their price target on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Loop Capital raised their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Evercore ISI raised their price objective on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Craig Hallum began coverage on Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price objective on the stock.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 81,515 shares of Samsara stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the sale, the chief executive officer now directly owns 96,000 shares in the company, valued at $3,555,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 81,515 shares of Samsara stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the sale, the chief executive officer now directly owns 96,000 shares in the company, valued at $3,555,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Bicket sold 81,486 shares of Samsara stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $37.04, for a total value of $3,018,241.44. Following the sale, the insider now owns 96,000 shares in the company, valued at $3,555,840. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,879,269 shares of company stock worth $83,386,415. 60.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in shares of Samsara by 41.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 150,775 shares of the company’s stock worth $7,255,000 after acquiring an additional 44,246 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Samsara in the 3rd quarter worth approximately $289,000. Farther Finance Advisors LLC boosted its position in Samsara by 77.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock valued at $91,000 after purchasing an additional 821 shares during the period. AustralianSuper Pty Ltd boosted its position in Samsara by 97.5% during the 3rd quarter. AustralianSuper Pty Ltd now owns 27,533 shares of the company’s stock valued at $1,325,000 after purchasing an additional 13,590 shares during the period. Finally, Avitas Wealth Management LLC acquired a new position in Samsara during the 3rd quarter valued at approximately $245,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Samsara Stock Down 3.3 %

IOT opened at $46.22 on Thursday. Samsara has a 52 week low of $22.19 and a 52 week high of $51.53. The business’s fifty day simple moving average is $46.62 and its 200 day simple moving average is $39.66.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. During the same period last year, the company earned ($0.11) EPS. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. On average, equities analysts expect that Samsara will post -0.34 EPS for the current fiscal year.

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.