Truist Financial Issues Positive Forecast for Samsara (NYSE:IOT) Stock Price

Samsara (NYSE:IOT) had its price objective hoisted by equities research analysts at Truist Financial from $40.00 to $50.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential downside of 4.29% from the company’s current price.

Several other brokerages also recently commented on IOT. Royal Bank of Canada raised their price objective 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. Loop Capital lifted their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Evercore ISI boosted their target price on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Craig Hallum initiated coverage on Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price target on the stock. Finally, Morgan Stanley increased their target price on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.87.

Samsara Stock Up 5.6 %

IOT stock opened at $52.24 on Monday. The firm has a market cap of $29.06 billion, a price-to-earnings ratio of -108.83 and a beta of 1.52. The company’s fifty day simple moving average is $48.78 and its 200 day simple moving average is $41.12. Samsara has a 12-month low of $25.76 and a 12-month high of $53.98.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same period in the previous year, the business earned ($0.11) EPS. The firm’s revenue was up 36.9% compared to the same quarter last year. Research analysts expect that Samsara will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sanjit Biswas sold 84,030 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the completion of the sale, the chief executive officer now directly owns 806,269 shares of the company’s stock, valued at $33,814,921.86. This trade represents a 9.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Adam Eltoukhy sold 9,308 shares of Samsara stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total value of $471,357.12. Following the sale, the insider now owns 396,784 shares in the company, valued at $20,093,141.76. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,717,614 shares of company stock valued at $78,501,134 in the last 90 days. 60.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Samsara

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its stake in Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after acquiring an additional 10,452 shares during the last quarter. Bank of Montreal Can bought a new position in Samsara during the second quarter valued at $537,000. Magnetar Financial LLC bought a new position in Samsara during the second quarter valued at $1,240,000. RFG Advisory LLC increased its position in Samsara by 41.5% in the second quarter. RFG Advisory LLC now owns 12,486 shares of the company’s stock worth $421,000 after buying an additional 3,662 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its stake in Samsara by 486.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 114,432 shares of the company’s stock valued at $3,856,000 after acquiring an additional 94,932 shares during the period. Hedge funds and other 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.