Samsara (NYSE:IOT) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Samsara (NYSE:IOT) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

A number of other equities analysts also recently issued reports on the company. Wolfe Research reiterated an “outperform” rating and set a $44.00 price target on shares of Samsara in a research report on Friday, June 28th. BMO Capital Markets raised their target price on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. TD Cowen increased their price target on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Wells Fargo & Company increased their price target on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, BNP Paribas started coverage on Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price for the company. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Samsara has an average rating of “Hold” and an average target price of $43.31.

Samsara Stock Performance

Samsara stock opened at $46.62 on Tuesday. The business’s 50-day simple moving average is $45.43 and its two-hundred day simple moving average is $38.83. The company has a market cap of $25.68 billion, a PE ratio of -93.24 and a beta of 1.52. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $51.53.

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

Insiders Place Their Bets

In other Samsara news, insider Adam Eltoukhy sold 12,500 shares of Samsara stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the completion of the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at $20,968,515. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Adam Eltoukhy sold 12,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $45.00, for a total value of $562,500.00. Following the completion of the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at approximately $20,968,515. 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 accessible through this link. Also, CEO Sanjit Biswas sold 58,739 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.61, for a total value of $2,972,780.79. Following the completion of the sale, the chief executive officer now directly owns 617,147 shares of the company’s stock, valued at $31,233,809.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,849,061 shares of company stock valued at $80,282,052 in the last ninety days. Insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several institutional investors have recently added to or reduced their stakes in IOT. Advisors Asset Management Inc. increased its position in Samsara by 9.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after purchasing an additional 280 shares during the period. UMB Bank n.a. lifted its stake in Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after buying an additional 418 shares in the last quarter. Resources Management Corp CT ADV lifted its stake in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the period. Cetera Advisors LLC lifted its stake in shares of Samsara by 6.8% during the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after purchasing an additional 497 shares during the period. Finally, Capstone Wealth Management Group LLC lifted its stake in shares of Samsara by 2.3% during the 3rd quarter. Capstone Wealth Management Group LLC now owns 26,660 shares of the company’s stock worth $1,283,000 after purchasing an additional 610 shares during the period. Institutional investors and hedge funds 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.