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

Samsara (NYSE:IOT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

IOT has been the topic of several other research reports. BMO Capital Markets raised their price target on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Bank of America boosted their price target on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company increased their price objective on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Piper Sandler boosted their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Evercore ISI upped their target price on Samsara from $40.00 to $42.00 and gave the stock an “in-line” 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 data from MarketBeat.com, Samsara presently has a consensus rating of “Hold” and a consensus price target of $44.20.

Samsara Price Performance

Shares of NYSE:IOT traded up $0.95 on Friday, hitting $52.72. 2,126,561 shares of the company’s stock were exchanged, compared to its average volume of 3,581,918. The business’s 50 day simple moving average is $47.25 and its two-hundred day simple moving average is $40.12. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of -109.83 and a beta of 1.52. Samsara has a 12 month low of $23.12 and a 12 month high of $52.81.

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

Insider Buying and Selling at Samsara

In other news, insider John Bicket sold 78,128 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.51, for a total transaction of $3,164,965.28. Following the sale, the insider now directly owns 1,273,912 shares of the company’s stock, valued at $51,606,175.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Samsara news, insider John Bicket sold 78,128 shares of Samsara stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.51, for a total transaction of $3,164,965.28. Following the completion of the sale, the insider now directly owns 1,273,912 shares in the company, valued at approximately $51,606,175.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 64,188 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total transaction of $3,047,646.24. Following the transaction, the chief executive officer now directly owns 41,272 shares of the company’s stock, valued at approximately $1,959,594.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,864,730 shares of company stock worth $84,375,885. 60.04% of the stock is owned by corporate insiders.

Institutional Trading of Samsara

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in shares of Samsara during the 2nd quarter valued at about $537,000. Magnetar Financial LLC purchased a new stake in shares of Samsara during the second quarter worth about $1,240,000. International Assets Investment Management LLC lifted its stake in Samsara by 2,787.2% in the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after buying an additional 10,452 shares in the last quarter. Swiss National Bank acquired a new stake in Samsara in the 1st quarter worth about $19,477,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Samsara in the first quarter valued at approximately $647,000. 89.39% of the stock is owned by institutional investors and hedge funds.

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.