Samsara (NYSE:IOT) Price Target Raised to $57.00 at BMO Capital Markets

Samsara (NYSE:IOT) had its target price lifted by BMO Capital Markets from $44.00 to $57.00 in a research note published on Friday morning, Marketbeat.com reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other brokerages also recently weighed in on IOT. BNP Paribas initiated coverage on Samsara in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday. 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 report on Friday, September 6th. Bank of America lifted their target price on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Craig Hallum assumed coverage on shares of Samsara in a research report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price for the company. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.29.

Samsara Trading Down 5.2 %

Samsara stock opened at $52.27 on Friday. Samsara has a 1-year low of $27.14 and a 1-year high of $57.51. The firm’s fifty day simple moving average is $50.44 and its 200-day simple moving average is $42.42. The company has a market capitalization of $29.08 billion, a P/E ratio of -111.21 and a beta of 1.53.

Samsara (NYSE:IOT) last posted its 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. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business’s revenue was up 36.9% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. On average, equities research analysts predict that Samsara will post -0.34 earnings per share for the current year.

Insider Activity

In other news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.88, for a total value of $4,500,480.00. Following the transaction, the chief executive officer now directly owns 698,299 shares of the company’s stock, valued at $32,736,257.12. The trade was a 12.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,873,300 shares of company stock worth $91,752,243. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOT. Hobbs Group Advisors LLC acquired a new stake in shares of Samsara during the 3rd quarter worth approximately $34,000. Continuum Advisory LLC increased its holdings in Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after purchasing an additional 247 shares during the last quarter. Resources Management Corp CT ADV boosted its holdings in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the last quarter. UMB Bank n.a. grew its position in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after buying an additional 418 shares during the period. Finally, National Bank of Canada FI bought a new stake in shares of Samsara in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

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.