Samsara (NYSE:IOT) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Samsara (NYSE:IOT) had its price target boosted by Morgan Stanley from $40.00 to $52.00 in a research report released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

IOT has been the subject of several other research reports. Evercore ISI increased their price objective on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Craig Hallum started coverage on shares of Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Truist Financial upped their price target on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Finally, BMO Capital Markets lifted their price objective on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.67.

Samsara Price Performance

Samsara stock opened at $56.35 on Wednesday. The business has a 50 day simple moving average of $49.25 and a 200-day simple moving average of $41.43. Samsara has a 12 month low of $26.13 and a 12 month high of $56.76. The stock has a market capitalization of $31.35 billion, a PE ratio of -117.40 and a beta of 1.52.

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 net margin of 24.19% and a negative return on equity of 20.39%. The business had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. During the same period in the previous year, the business posted ($0.11) earnings per share. The business’s revenue was up 36.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Samsara will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, insider Adam Eltoukhy sold 12,500 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $55.05, for a total transaction of $688,125.00. Following the completion of the sale, the insider now directly owns 396,784 shares in the company, valued at $21,842,959.20. This represents a 3.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the transaction, the chief accounting officer now owns 319,667 shares in the company, valued at $15,123,445.77. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,826,114 shares of company stock worth $84,024,779. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. increased its position in shares of 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 acquiring an additional 6,411,178 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after purchasing an additional 3,853,400 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position 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 valued at $666,584,000 after purchasing an additional 2,797,326 shares during the period. Vanguard Group Inc. lifted its stake in shares of Samsara by 12.1% during the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares in the last quarter. Finally, FMR LLC boosted its position in shares of 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 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.